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China bond defaults signal a coming of age as state safety net shrinks
Bond defaults by state-owned enterprises have rattled China’s onshore credit markets. We see this as an important if painful step in curtailing moral hazard.
Growth targets take a backseat in China’s new economic plan
Domestic consumption and technology growth will be prioritised as the government reveals overarching guidelines for the country’s 14th five-year plan.
A shelter from the storm, for now: China’s bond market set to open further
When global fixed income investors scrambled for cover last month, China’s onshore bond market was a rare haven with low volatility and no liquidity crunch.
China tiptoes down easing street with rate reform
While the Fed and ECB are signaling more rate cuts and quantitative easing to come, China’s central bank has been taking a more cautious approach.
No pain, no gain: Chinese defaults are rising and recovery rates are falling
Part of a white paper offering in-depth research on defaults in China - why they are happening and what investors should do about it.
Is seven an unlucky number for China’s currency?
China’s renminbi weakened past the seven per US dollar mark for the first time in more than ten years.
In Baoshang Bank takeover, China takes aim at moral hazard
The recent move by regulators in China to take over Baoshang Bank marks a significant event in the development and liberalisation of China’s capital markets.
China’s stimulus is working, but credit markets hold longer-term risks
The credit stimulus measures that China began last summer are starting to reach a critical mass, but transmission to the real economy remains patchy.
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