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...She also urged the government to extend the Recovery Loan Scheme that has offered small and medium-sized businesses a lifeline since the Covid-19 pandemic and is due to expire in June....
...governments and local government financing vehicles (LGFV) — off balance sheet entities that raise their own funds....
...A competent team of plumbers is sorely missing....
...China’s “national team” of major state-backed financial services companies has ploughed Rmb410bn ($57bn) into local equities exchange traded funds so far this year, according to UBS estimates....
...The influx of local investors came as the global hedge funds reported double-digit returns in one of the world’s worst-performing markets while local asset managers struggled to make ends meet....
...JPMorgan Asset Management’s China retail asset management subsidiary will go head to head with about half a dozen top local fund houses after the Lunar New Year holiday to raise money for exchange traded...
...As China’s post-pandemic recovery faltered thanks to a prolonged real estate meltdown and a lack of private sector confidence, its stock market went on a rollercoaster ride....
...“What convinces a portfolio manager running an $1bn fund to put 10 per cent of that back into China?” said the trading desk head in Hong Kong....
...Chinese local government debt, including off-balance sheet financing vehicles and shadow credit, was probably equivalent to between 75 and 91 per cent of national GDP in 2022, according to a paper last year...
...than investing directly in its ailing stock market....
...As stock markets in the US surge, many increasingly cautious local private investors are turning to options and derivatives to protect against changing sentiment....
...He added that the central government would continue to transfer funds to help support local authorities, whose finances have been strained by property market woes, and would pursue tax cuts to support technological...
...Both sites employ local garbage pickers who collect plastics that can ultimately be recycled....
...“The market grapples with complexity amid a distressed property sector, fiscal constraints of local governments, and a lack of confidence in the private sector,” said Redmond Wong, chief China strategist...
...But Labour says the levelling up funds do not compensate for 14 years of deep cuts to the annual grants given by central government to local councils....
...The CPS has started civil recovery proceedings in the High Court. Usually half of forfeited funds go to the police and the other half go the Home Office if no one else is entitled to the assets....
...Distribution of Income and Wealth: Spain to push through minimum income guarantee to fight poverty Trading blocs: The chain of events that led to Germany’s change over Europe’s recovery fund Public goods...
...Beijing has announced a Rmb1tn ($137bn) bond to fund local government disaster relief and flood controls, but this is seen as aimed at supporting growth next year....
...On the same day, the CSRC proposed a package of market-friendly reforms in an effort to boost equities investment amid a slowdown in China’s post-pandemic economic recovery....
...The stakes of Argentina’s recovery are high for the IMF....
...The gains for bonds issued in international markets by local government financing vehicles — investment entities that raise debt to fund spending on infrastructure and other projects — reflect Chinese financial...
...Local media reports suggest that the proportion of overseas investors in the onshore China A-shares market is still low....
...Here’s more on the regions driving a nascent recovery in the M&A market....
...The central bank has also created a separate financial stability fund to provide some emergent liquidity to curb a contingent risk of weak banks....
...The impact of the property sector slowdown on local and central government fund budgets was “controllable and structural”, it added....
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