Local governments have raised $21 billion via special bonds this year to boost the capital of small and mid-sized banks to reduce risks of spillover from the property crisis and economic slowdown
Zhongzhi sent a note of apology to investors on Wednesday, saying it had liabilities of up to $64 billion. This has led to fears of debts spreading from the property crisis to the financial sector
Another year of consistent wage growth would force the Bank of Japan to consider ending its controversial monetary stimulus
Lawmakers in Japan area debating a move to allow listed businesses to report twice a year instead of having to file quarterly financial reports, Nikkei Asia says
Hong Kong’s Hang Seng Index saw its best day in four months, while the Nikkei rose 2.5% and most other Asian markets and currencies were also lifted
Notorious hacking gang Lockbit claims the Industrial and Commercial Bank of China paid a ransom to resolve the attack on the bank's unit in the United States
Security reviews are being undertaken in the US after the ICBC ransom attack, while China's top bank sent capital to its US arm to help pay BNY Mellon $9 billion for unsettled trades caused by the event
China's biggest private developer expects to give key bondholders its cashflow projections by year's end, as part of the basis for the tentative restructuring plan, sources say
Some new local government debt quotas for 2024 have been issued in advance to reasonably ensure local financing needs, China's newly appointed finance chief said
A month-end scramble for cash and a flood of government bond sales triggered an overnight record surge in rate for pledged repo on October 31
A former central bank official has warned the Bank of Japan might phase out stimulus by next month if pressure continues to mount on its currency and prices
The move, proposed in a new debt-restructuring plan for offshore bondholders with about $19 billion of debt, would involve shares in its property services and new-energy-vehicle units, sources say