Another Chinese real estate developer misses a payment.

another chinese real estate developer misses a payment

A Chinese real estate developer missed a key payment to foreign bondholders this week, heightening the persistent fears of a coming crisis in China’s real estate sector. The developer, Fantasia Holdings Group, a company specializing in luxury properties that was founded by the niece of Zeng Qinghong, a former vice president, said on Monday night that it had failed to make a final payment of $206 million. The disclosure surprised investors already on edge after two missed payments from China Evergrande Group, the world’s most indebted developer. Jittery investors sold…

China’s Top Disciplinary Body Moves Against Ex-Security Officials Fu Zhenghua, Sun Lijun

chinas top disciplinary body moves against ex security officials fu zhenghua sun lijun

Advertisement Fu Zhenghua, a former Beijing Public Security Bureau chief and vice minister of public security, is suspected of a “serious breach of discipline and the law,” according to an announcement by the Central Commission for Discipline Inspection (CCDI) published on Saturday on the commission’s website. His fall was revealed a day after the commission issued a withering condemnation of another former vice minister of public security, Sun Lijun, who has been under investigation since April last year. Top officials in China who are removed for alleged abuse of power…

China Evergrande’s Shares Are Halted as Doubts Swirl

china evergrandes shares are halted as doubts swirl

Shares of China Evergrande were halted on Hong Kong’s stock exchange on Monday pending a deal, as doubts swirled over whether the struggling property giant would be able to meet its immense financial obligations. Evergrande said in a filing that its shares were halted ahead of an announcement about a “major transaction.” It gave no additional details. The real estate developer — once China’s most prolific — has been under close watch by foreign investors and local regulators after it missed two important interest payments on U.S. dollar bonds. The…

U.S. Signals No Thaw in Trade Relations With China

u s signals no thaw in trade relations with china

WASHINGTON — The Biden administration offered its strongest signal yet that the United States’ combative economic approach toward China would continue, with senior administration officials saying that President Biden would not immediately lift tariffs on Chinese goods and that he would hold Beijing accountable for trade commitments agreed to during the Trump administration. Comments on Monday by Katherine Tai, the United States trade representative, and other officials provided one of the first looks at how the Biden administration plans to deal with a rising economic and security threat from China.…

What Does Meng Wanzhou’s Release Mean for China-US Relations?

what does meng wanzhous release mean for china us relations

Advertisement On September 24, after more than 1,000 days of detention by the Canadian authorities, Huawei company’s Chief Financial Officer Meng Wanzhou returned to China after reaching a deal with the U.S. Justice Department with regard to fraud charges against her. Notably, contrary to some pervious speculation, Meng pleaded not guilty and there was also no fine against her in the deferred prosecution agreement (DPA). This is a big victory for Meng herself and for Huawei as it was admitted by the U.S. side that the legal case against Meng…

WSJ News Exclusive | China Releases Two U.S. Citizens Blocked From Leaving Since 2018

wsj news exclusive china releases two u s citizens blocked from leaving since 2018

China has let go two Americans who have been banned from leaving the country since 2018 and allowed them to return to the U.S. following a Justice Department deal with a Chinese technology-company executive, according to people familiar with the situation. The exit from China of Victor Liu and Cynthia Liu over the weekend coincided with the U.S. deal last week that freed Huawei Technologies Co. Chief Financial Officer Meng Wanzhou and the almost simultaneous departure from China of Canadian prisoners. A State Department official confirmed that the Massachusetts siblings,…

Meng and the Michaels: why China’s embrace of hostage diplomacy is a warning to other nations

The release of two Canadian hostages by China has ended a lengthy feud between the two countries, but experts caution the saga foreshadows a deepening rift between the two nations. After facing charges of espionage and spending more than 1,000 days in detention, Michael Kovrig and Michael Spavor were set free by Chinese authorities late last week. Accompanied by Canada’s ambassador to China, the pair arrived home early on Saturday morning. The two had been detained after Canada’s arrest of the Huawei executive Meng Wanzhou, who also arrived home after…

Republicans Say Kerry Is Lobbying Against Slave Labor Bill

republicans say kerry is lobbying against slave labor bill

X Story Stream recent articles President Biden, with the full support of the Democratic Party,  has committed this country to defending human rights around the world and addressing climate change. Although these are not competing goals, they are not necessarily reinforcing. Last week, John Kerry announced plans to visit China to continue carbon emissions negotiations, a task fitting the Biden administration’s designated envoy on climate change. But some Republican lawmakers are demanding to know if Kerry has been quietly lobbying against anti-slave labor legislation in Washington to secure diplomatic breathing…

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