US markets suffer sharpest drop since mid-May in losses sparked by China refusal to bail out indebted property developer
3 years, 3 months ago

US markets suffer sharpest drop since mid-May in losses sparked by China refusal to bail out indebted property developer

The Independent  

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Wall Street has suffered its sharpest drop since May as the S&P 500 fell 1.7 per cent, and the Dow Jones Industrial Average closed down 614 points, or 1.8 per cent. The tech-focused Nasdaq also fell 2.2 per cent in a wild day of trading sparked by a number of emerging risks, including the prospect that one of China’s largest property developers may default on hundreds of billions of dollars of debt. Investors are worried that China Evergrande Group’s problems may cause a ripple effect through financial markets — the Hang Seng index dropped four per cent as default looms for the company. The pandemic also remains a concern with cases of Covid-19 stubbornly remaining at levels last seen in January as the Delta variant continues to circulate causing large-scale hospitalisations and deaths, almost entirely among unvaccinated individuals.

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History of this topic

China’s retail investor sours quickly on stocks
2 days ago

China’s retail investor sours quickly on stocks

Live Mint  

* Chinese stocks suffered weakest start to new year in a decade * Retail investors sell amid US trade policy uncertainties * Further selling could trigger stampede, hurt economy * Beijing's half-hearted policies lead to investor disillusionment By Samuel Shen and Summer Zhen SHANGHAI/HONG KONG, - Day-trader Lu Delong's optimism for a China stocks rally quickly evaporated in the first …

Chinese Stocks Tumble in Worst Start to a Year Since 2016
1 week, 6 days ago

Chinese Stocks Tumble in Worst Start to a Year Since 2016

Live Mint  

-- Chinese stocks posted their worst start to a year in nearly a decade as investors braced for economic uncertainties with weaker-than-expected manufacturing data and an anticipated hike in tariffs. “The underlying momentum for China remains quite fragile, and it will take some efforts from the authorities to change the conversation on the country’s medium-term deflationary dangers.” While Chinese stocks …

Stock market today: Asian shares fall as China reports lackluster data, while bitcoin hits new highs
4 weeks, 2 days ago

Stock market today: Asian shares fall as China reports lackluster data, while bitcoin hits new highs

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shares retreated Monday in …

China's economy logs a lackluster performance in November as retail sales slow
4 weeks, 2 days ago

China's economy logs a lackluster performance in November as retail sales slow

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China’s economy logged a mixed …

Stock market today: Asian shares advance, tracking rally on Wall Street
1 month ago

Stock market today: Asian shares advance, tracking rally on Wall Street

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shares advanced Thursday in Asia …

China stocks log biggest weekly loss since July as output, home price data disappoints
2 months ago

China stocks log biggest weekly loss since July as output, home price data disappoints

Live Mint  

HONG KONG, - Chinese stocks had their biggest weekly loss since July, while Hong Kong shares erased early gains to end slightly lower on Friday as scepticism that China can mount a sustained economic recovery remained prevalent in the market. China's blue-chip CSI 300 Index fell 1.8% bringing losses this week to 3.3%, the most since July. The real estate …

China stocks decline amid economic recovery disappointment, while other markets in Asia rise
3 months ago

China stocks decline amid economic recovery disappointment, while other markets in Asia rise

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Let’s call it what it …

China’s top leaders vow to support consumers and improve confidence in its slowing economy
5 months, 2 weeks ago

China’s top leaders vow to support consumers and improve confidence in its slowing economy

Associated Press  

BANGKOK — China’s powerful Politburo has endorsed the ruling Communist Party’s long-term strategy for growing the economy by encouraging more consumer spending and weeding out unproductive companies to promote “survival of the fittest.” A statement issued after the meeting of the 24 highest leaders of the party warned that coming months would be tough, perhaps alluding to mounting global uncertainties …

Stock market today: Global shares tumble after a wipeout on Wall Street as Big Tech retreats
5 months, 3 weeks ago

Stock market today: Global shares tumble after a wipeout on Wall Street as Big Tech retreats

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Stock market today: Asian shares sink, weighed down by Wall St tech retreat, China policy questions
5 months, 4 weeks ago

Stock market today: Asian shares sink, weighed down by Wall St tech retreat, China policy questions

Associated Press  

Asian shares retreated Friday after a broad washout across Wall Street dragged U.S. stocks lower, and Hong Kong’s benchmark fell more than 2% as investors remained wary over China’s plans for helping its ailing property sector. AP AUDIO: Stock market today: More drops for big tech stocks keep dragging Wall Street lower AP business correspondent Seth Sutel has the AP …

Expert sees 'tough' capital market reform
6 months, 2 weeks ago

Expert sees 'tough' capital market reform

China Daily  

The next wave of China's capital market reform could see "harsh punishments and tough laws" to rein in illegal activities as property giant Evergrande's recent meltdown due to debt troubles underscored the gravity of securities malpractices, said a leading financial expert and senior economist. Reforms need to be deepened urgently to preempt rule violations and further develop an investor-oriented capital …

China's real estate market faces regulatory scrutiny
9 months, 4 weeks ago

China's real estate market faces regulatory scrutiny

China Daily  

A salesman introduces a residential project to potential homebuyers in Taiyuan, Shanxi province. WEI LIANG/CHINA NEWS SERVICE China's real estate market will require close monitoring by policymakers, and if there is no marked improvement, stronger efforts to mitigate the credit risks of developers and facilitation of potential debt restructuring will be required, experts said. Holding Xu Jiayin, founder and former …

Chinese stocks slide as investors maintain caution after US inflation report
10 months ago

Chinese stocks slide as investors maintain caution after US inflation report

Associated Press  

HONG KONG — China stocks were lower Wednesday after the overnight United States inflation report that signaled a diminished possibility of the Fed’s rate cut made investors cautious. Cathay Pacific Airways stock jumped 5.3% after it announced remarkable a 336% increase in operating profit in 2023, reaching 15.1 billion Hong Kong dollars and surpassing the previous record set in 2010. …

Chinese stock gauges rally 20%, bolstering market bottom calls
10 months ago

Chinese stock gauges rally 20%, bolstering market bottom calls

Live Mint  

A rally in Chinese stocks has sent a number of benchmarks surging 20% from lows, a sign that the battered market may be headed for a more sustainable uptrend after multiple false dawns over the past year. “It’s rare to see China’s markets sustain a rally for weeks since the second half of last year,” said Fanwei Zeng, investment analyst …

Everything China’s doing to rescue its battered stock market
10 months, 2 weeks ago

Everything China’s doing to rescue its battered stock market

Live Mint  

Chinese stocks have struggled for traction since returning from the Lunar New Year break, adding pressure on Beijing to provide more support and restore confidence in an economy grappling with a property slump and stubborn deflation. Regulators Check in With Listed Firms China’s regulatory officials visited listed companies in 20 provinces and municipalities from Jan. 29-Feb. 4, according to a …

China names a new stock regulator and reports new developer financing in a bid to soothe markets
11 months, 1 week ago

China names a new stock regulator and reports new developer financing in a bid to soothe markets

Associated Press  

BANGKOK — Chinese shares rose Thursday as investors appeared to welcome Beijing’s choice of an industry veteran to head its securities watchdog, in its latest effort to boost confidence in ailing markets. Investors registered their enthusiasm in online comments, with some saying they expected Wu, whose full name is a homophone for characters meaning “ruthless” in Chinese, to live up …

China tightens some trading restrictions for domestic and offshore investors
11 months, 1 week ago

China tightens some trading restrictions for domestic and offshore investors

Live Mint  

China is tightening trading restrictions on domestic institutional investors as well as some offshore units as authorities fight to stem a deepening stock rout, according to people familiar with the matter. In a statement Monday, the China Securities Regulatory Commission said it recently discovered multiple cases of stock market manipulation and “malicious short selling.” The regulator vowed to act quickly …

China markets slump to 5-year lows as regulator promises to protect small investors
11 months, 1 week ago

China markets slump to 5-year lows as regulator promises to protect small investors

Associated Press  

BANGKOK — Chinese shares gyrated on Monday, sinking to 5-year lows after market regulators sought to reassure jittery investors with a promise to crack down on stock price manipulation and “malicious short selling.” Shares in Shanghai and the smaller market in Shenzhen, near Hong Kong, swung between big losses and small gains throughout the day. “We will continue to increase …

Order to liquidate property giant China Evergrande is just one step in fixing China’s debt crisis
11 months, 2 weeks ago

Order to liquidate property giant China Evergrande is just one step in fixing China’s debt crisis

Associated Press  

BANGKOK — A Hong Kong court’s order to liquidate China Evergrande, the world’s most heavily indebted real estate developer, is only a tentative step toward resolving a debt crisis that is haunting financial markets and dragging on the Chinese economy. The order by the Hong Kong High Court also is not a remedy for the crisis of confidence haunting China’s …

Order to liquidate property giant China Evergrande is just one step in fixing China's debt crisis
11 months, 2 weeks ago

Order to liquidate property giant China Evergrande is just one step in fixing China's debt crisis

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A Hong Kong court’s order …

China's top-selling to world's most indebted developer: What is Evergrande crisis
11 months, 2 weeks ago

China's top-selling to world's most indebted developer: What is Evergrande crisis

Hindustan Times  

A Hong Kong court ordered the liquidation of China Evergrande Group on Monday. Once China's top-selling developer, Evergrande's financial crisis became public in 2021 and since then it and a string of its peers have defaulted on their offshore debt obligations amid slowing home sales and fewer new avenues for fundraising, triggering fears of wider contagion that could spread to …

China Evergrande has been ordered to liquidate. The real estate giant owes over $300 billion
11 months, 2 weeks ago

China Evergrande has been ordered to liquidate. The real estate giant owes over $300 billion

Associated Press  

HONG KONG — A Hong Kong court ordered China Evergrande, the world’s most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion owed to banks and bondholders that fueled fears about China’s rising debt burden. She said it was appropriate for the court to order Evergrande to wind up its business given a …

Why China Property Giant Evergrande Faces Liquidation
11 months, 2 weeks ago

Why China Property Giant Evergrande Faces Liquidation

Bloomberg  

Property giant China Evergrande Group is heading for liquidation after a Hong Kong court ordered it to be wound up. Evergrande defaulted on its bonds in December 2021, triggering protracted negotiations with creditors to hammer out a restructuring plan. Further funding problems sent the company’s stock and bonds tumbling and, after late payments on some dollar bonds, it missed a …

China real estate giant Evergrande, over $300 billion in debt, is ordered to liquidate
11 months, 2 weeks ago

China real estate giant Evergrande, over $300 billion in debt, is ordered to liquidate

LA Times  

Broken furniture is seen outside an abandoned Evergrande commercial complex in Beijing on Monday. A Hong Kong court ordered China Evergrande, the world’s most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion owed to banks and bondholders that fueled fears about China’s rising debt burden. She said it was appropriate for the …

Vantage | Why investors are pulling money out of China's stock markets
11 months, 3 weeks ago

Vantage | Why investors are pulling money out of China's stock markets

Firstpost  

As India celebrates the consecration of the Ram Temple in Ayodhya, the festive mood is overshadowed by discontent in its neighbouring countries. Meanwhile, China, India’s iron brother, is grappling with significant economic challenges, leading to a mass exodus of investors and mounting losses in its financial markets. The decline of Hong Kong’s financial prowess signifies a shift in China’s growth …

China stock investors say worst yet to come in property crisis
1 year, 3 months ago

China stock investors say worst yet to come in property crisis

Live Mint  

China’s property sector has yet to see the worst of the crisis that has cast a pall over the nation’s economy and helped drive an exodus of global funds from the world’s second-largest stock market. That’s the view from nine of 15 respondents in an informal Bloomberg News survey of analysts and money managers based in Hong Kong and mainland …

Trading of shares of heavily indebted property developer China Evergrande suspended in Hong Kong
1 year, 3 months ago

Trading of shares of heavily indebted property developer China Evergrande suspended in Hong Kong

Associated Press  

HONG KONG — Trading in shares of heavily indebted Chinese property developer China Evergrande Group was suspended in Hong Kong on Thursday, according to a notice on the Hong Kong stock exchange. Evergrande is the world’s most heavily indebted real estate developer and is at the center of a property market crisis that is dragging on China’s economic growth. Trading …

Jinping’s housing crisis efforts jeopardized as Evergrande face trouble
1 year, 3 months ago

Jinping’s housing crisis efforts jeopardized as Evergrande face trouble

Live Mint  

Fresh drama at Chinese property developers jeopardizes President Xi Jinping's efforts to end the housing crisis, as Evergrande revisits its debt restructuring plan, China Oceanwide faces liquidation, and Country Garden tries to avoid a potential default. China Evergrande Group shares slid for a second consecutive session on Tuesday, dropping as much as 8% after a unit of the embattled property …

Stock market today: Asia sinks after a survey shows China's industrial activity is weakening
1 year, 6 months ago

Stock market today: Asia sinks after a survey shows China's industrial activity is weakening

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Asian stock markets sank Wednesday …

Asian stocks sink before US Congress votes on deal to avoid debt default
1 year, 7 months ago

Asian stocks sink before US Congress votes on deal to avoid debt default

Associated Press  

BEIJING — Asian stock markets sank Wednesday ahead of a vote by Congress on a deal to avert a government debt default, while a downturn in Chinese factory activity deepened, adding to signs global economic activity is weakening. Wall Street’s benchmark S&P 500 index edged up less than 0.1% on Tuesday as President Joe Biden and U.S. House Speaker Kevin …

Stock market today: Asian shares advance though China economic data weaker than expected
1 year, 7 months ago

Stock market today: Asian shares advance though China economic data weaker than expected

Associated Press  

Asian shares were mostly higher on Tuesday even though the latest data showed China’s economy is weaker than expected, with domestic demand failing to bounce back as much as hoped for after the pandemic. “While the boost from reopening should still underpin a further recovery in the near-term, the bulk of China’s rebound is now behind us,” Julian Evans-Pritchard of …

Stock market today: Asian shares mostly lower on looming worry over US banks, China growth
1 year, 8 months ago

Stock market today: Asian shares mostly lower on looming worry over US banks, China growth

India TV News  

Stock Market: Asian shares were mostly lower on Friday on looming worries over US banks and lagging demand from China, the region's major driver of growth. Japan's benchmark Nikkei 225 gained 0.9 per cent in morning trading to 29,393.24 as companies like Nissan Motor Co. gained after reporting relatively favourable earnings. Hong Kong's Hang Seng was virtually unchanged at 19,746.09, …

Heavily indebted Chinese developer proposes restructuring
1 year, 9 months ago

Heavily indebted Chinese developer proposes restructuring

Associated Press  

BEIJING — A Chinese real estate developer whose struggle to manage more than $300 billion in debt rattled global financial markets announced a long-awaited plan Thursday to restructure what it owes to foreign bondholders. The Evergrande Group, the global real estate industry’s most heavily indebted company, ran short of cash after Beijing tightened controls on corporate debt the ruling Communist …

Officials: China real estate recovering from debt crackdown
1 year, 10 months ago

Officials: China real estate recovering from debt crackdown

Associated Press  

BEIJING — China’s vast real estate industry is recovering from a slump triggered by tighter debt controls, a deputy central bank governor said Friday, after a wave of defaults by developers rattled global financial markets. Pan Gongsheng mentioned Evergrande Group, the global industry’s most heavily indebted developer, but gave no update on its government-supervised efforts to restructure 2.1 trillion yuan …

$57 billion wiped from Australian market, Wall Street rout as Dow plunges 1,000 points, Nasdaq loses 5pc
2 years, 8 months ago

$57 billion wiped from Australian market, Wall Street rout as Dow plunges 1,000 points, Nasdaq loses 5pc

ABC  

The Australian share market has lost nearly $60 billion in a single day, and Wall Street has lost trillions as investors took flight amid concerns that more official interest rate hikes would not be enough to curb surging inflation. Key points: The Dow Jones index fell 3.1pc to 32,998, the S&P 500 fell 3.5pc to 4,147, and the Nasdaq fell …

Xi’s Covid Zero Policy Prolongs Stress in China Real Estate Debt Market
2 years, 8 months ago

Xi’s Covid Zero Policy Prolongs Stress in China Real Estate Debt Market

Bloomberg  

Yields Top 22% as Covid-Zero Policy Stings China Dollar Bonds China Credit Tracker Share this article Fresh challenges are confronting Chinese borrowers in global debt markets after authorities doubled down on the nation’s Covid Zero policy. The focus remains on China’s offshore junk note market—dominated by property developers—after stress levels remained at their most elevated level in April, Bloomberg’s credit …

A shares buck US downtrend
2 years, 9 months ago

A shares buck US downtrend

China Daily  

Tourism, hospitality stocks shine; banking, property, blue-chips in focus The A-share market closed higher on the first trading day of April amid consensus among mavens that share prices may be bottoming out, given that more favorable government policies appear to be in the pipeline. Yang Delong, chief economist of First Seafront Fund, said negative messages from domestic and overseas markets …

A shares buck US downtrend
2 years, 9 months ago

A shares buck US downtrend

China Daily  

Tourism, hospitality stocks shine; banking, property, blue-chips in focus The A-share market closed higher on the first trading day of April amid consensus among mavens that share prices may be bottoming out, given that more favorable government policies appear to be in the pipeline. Yang Delong, chief economist of First Seafront Fund, said negative messages from domestic and overseas markets …

China's Evergrande baffled (and worried) after lenders claim $2 billion in cash
2 years, 9 months ago

China's Evergrande baffled (and worried) after lenders claim $2 billion in cash

Hindustan Times  

Chinese developer Evergrande said Tuesday it is investigating how lenders have laid claim to deposits valued at more than 13.4 billion yuan for its subsidiary, the latest black mark against the debt-ridden property giant. It announced Tuesday that one of its key units Evergrande Property Services Group had about $2.1 billion in cash that banks have laid claim to as …

Chinese property developer giant Evergrande stops trading on Hong Kong Stock Exchange
2 years, 9 months ago

Chinese property developer giant Evergrande stops trading on Hong Kong Stock Exchange

Firstpost  

The suspension – the second this year – comes ahead of an expected $2 billion repayment obligation on Wednesday, and another next month of $1.4 billion Hong Kong, China: Troubled Chinese property developer giant Evergrande and all its units suspended trading in Hong Kong Monday morning, according to a notice to the stock exchange. “Accordingly, all structured products relating to …

China Credit Investors Brace for More Surprises From Hidden Debt
2 years, 10 months ago

China Credit Investors Brace for More Surprises From Hidden Debt

Bloomberg  

China Credit Investors Brace for More Surprises From Hidden Debt China Credit Tracker Share this article China’s credit markets are ushering in the new year with a fresh bout of stress, as scrutiny of hidden debt among the nation’s developers adds to turmoil in a sector facing mounting bills and limited fundraising options. Distress in the nation’s $870 billion offshore …

After Evergrande, China’s Shimao reignites property sector fears
3 years ago

After Evergrande, China’s Shimao reignites property sector fears

Al Jazeera  

Developer has seen share price plunge more than 50 percent since November amid liquidity, transparency concerns. After defaults by Evergrande and Kaisa, China’s Shimao Group is the latest property developer to raise fears of a far-reaching crisis in the country’s indebted real estate market. Since November, Shimao, China’s 13th largest real estate developer, has seen its share price plunge more …

Evergrande can’t pay its debts. China is scrambling to contain the fallout
3 years, 1 month ago

Evergrande can’t pay its debts. China is scrambling to contain the fallout

CNN  

Hong Kong CNN Business — Evergrande has defaulted on its debt. “China’s leadership is attempting to play it cool, but the circumstances surrounding Evergrande’s downward spiral raises serious questions about Xi Jinping’s stewardship over China’s rapidly cooling economy,” said Craig Singleton, an adjunct fellow in the China Program at the Foundation for Defense of Democracies, a research institute based in …

Chinese real estate behemoth Evergrande, one other firm default on $1.6 billion in bonds
3 years, 1 month ago

Chinese real estate behemoth Evergrande, one other firm default on $1.6 billion in bonds

Firstpost  

Following the development, Fitch Ratings agency has downgraded the Evergrande’s status to ‘restricted default rating’ Beijing, China: Two major Chinese property firms have defaulted on $1.6 billion worth of bonds to overseas creditors, Fitch Ratings agency said Thursday, as contagion spreads within the country’s debt-ridden real estate sector. The Chinese government sparked a crisis within the property industry when it …

Evergrande shares plummet 20% to new record low as default fears resurface
3 years, 1 month ago

Evergrande shares plummet 20% to new record low as default fears resurface

CNN  

Hong Kong CNN Business — Shares of Evergrande plummeted to a new record low on Mondayas the Chinese developer once again teetered on the brink of default. “In light of the current liquidity status … there is no guarantee that the group will have sufficient funds to continue to perform its financial obligations,” Evergrande said late Friday in a stock …

Evergrande crisis: US Fed warns China’s property problems could hurt global markets and the US economy
3 years, 2 months ago

Evergrande crisis: US Fed warns China’s property problems could hurt global markets and the US economy

CNN  

Hong Kong CNN Business — Troubles in China’s vast real estate sector could spill over to the global economy — including the United States, according to the Federal Reserve. The US central bank warned Monday that China’s ongoing property woes could elevate “financial stresses in China, could further strain global financial markets and negatively affect the United States.” In its …

Explained: Why China's property crash isn't a Lehman Brothers moment
3 years, 2 months ago

Explained: Why China's property crash isn't a Lehman Brothers moment

The Hindu  

Any story you tell about China, with its population of 1.4 billion and an economy that has more than doubled over the last decade, will always involve big numbers ― scary numbers. New home sales plummet by a third With property being a key driver of economic growth ― contributing about 29 per cent to China's gross domestic product ― …

China's economy slows as Beijing wrestles with debt
3 years, 2 months ago

China's economy slows as Beijing wrestles with debt

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Beijing “doesn’t want growth at …

Evergrande shares plunge as Chinese property developer faces another debt deadline
3 years, 2 months ago

Evergrande shares plunge as Chinese property developer faces another debt deadline

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chinese property giant Evergrande’s stock …

China’s real estate crisis: Evergrande and these developers are already in trouble
3 years, 2 months ago

China’s real estate crisis: Evergrande and these developers are already in trouble

CNN  

CNN Business — China’s real estate crisis isn’t showing any sign of letting up. They could Earlier this month, the People’s Bank of China said that Evergrande had mismanaged its business, but risks to the financial system were “controllable.” And at financial forum in Beijing last week, Chinese Vice Premier Liu He stressed that risks were generally under control, despite …

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