In today’s briefing:
- China Expands Debt Guarantee Program for Property Developers
- Covid Lockdowns Stoke Merchant Concerns Ahead of Peak Shopping Season
China Expands Debt Guarantee Program for Property Developers
- State-owned China Bond Insurance Co. is expanding a debt guarantee program to help about a dozen property developers issue 20 billion yuan ($2.75 billion) of bonds to shore up an industry that’s mired in a liquidity crisis amid slumping housing sales.
- The debt-support policies are aimed at alleviating financial stress for private companies that are battling an economic slowdown and disruptions caused by the latest wave of Covid-19 lockdowns.
- Defaults by private enterprises are increasing, and investors are becoming more wary of buying their debt.
Covid Lockdowns Stoke Merchant Concerns Ahead of Peak Shopping Season
- A fresh wave of Covid-19 outbreaks and tightened control measures across China are stoking concerns among merchants that logistics disruptions could undermine sales in the annual “Double 11” shopping promotion.
The event, also known as “Singles’ Day,” is one of the biggest money-earners in the retail calendar.
But Covid lockdowns are again squeezing logistics in some parts of the country.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
