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...At this stage in 2021, Chinese companies had issued $61bn of equity outside the country, 39 times more than the volumes in 2024....
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Beijing acts to tightly monitor herd size as falling prices help add to wider climate of deflation
...In the north of Shanghai, an ecommerce company specialising in luxury goods said it was “no longer a sellers’ market”....
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...Stein said developments in US politics were also creating “greater complexity” for American companies in China. “The end result is companies are getting squeezed between the two governments,” he said....
...It pulled out of that set-up, selling its 33 per cent stake to Changjiang, over what people close to the company said at the time were disagreements over strategy and appointments....
...thomas.hale@ft.com...
...Chinese companies have raised just $6.4bn in mainland IPOs, follow-on and convertible share offerings so far this year — the lowest level on record, according to Dealogic data....
...Shares of Chinese property developer Vanke dropped 11 per cent as trading resumed in Hong Kong, after the state-linked company last week disclosed its profits halved in 2023....
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Boost for policymakers comes as they struggle to counter slowdown in world’s second-largest economy
...Thomas Hale So a Hong Kong court has ruled that Evergrande, or at least its holding company in Hong Kong, should be liquidated....
...Now mainland Chinese companies, buoyed by a recent domestic boom, are seeking to raise money and expand beyond their borders....
...Local head Isabel Ge Mahe said the company was “proud to deepen our roots in China and expand our world-class facilities here”....
...The company had failed to work out a restructuring agreement with offshore creditors....
...It is 28 per cent owned by the Shenzhen Metro, occupying a middle ground between a private and state-owned company....
...Evergrande is the world’s most indebted property company with some $340bn of liabilities....
...Rising protectionism in developed markets will also take time to take effect, and Chinese companies have proved adept at avoiding tariffs by channelling goods through other markets, analysts said....
...It said it expected the company’s “credit metrics, financial flexibility and liquidity buffer” to weaken over the next 12 to 18 months....
...It accused him of “instructing other personnel” to inflate company metrics....
...The company’s international bonds have lost almost all of their value....
...Bonds issued by Vanke, a state-backed developer and the second-largest property company in the country, slumped in price below 40 cents on the dollar while Country Garden, which defaulted on its offshore...
...The $130mn project for drinks group Pernod Ricard is a sign of western companies’ intent to support the market’s growth by investing in local production of a spirit yet to take off fully with Chinese consumers...
...A fledgling business of the kind A Bao becomes involved in is a “briefcase company” — as though the whole enterprise can be folded up along its stitch-marks....
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