Friday, 30 September 2011

Zhejiang employees demand pay after bankrupt boss flees

Among the protestors bringing traffic to a standstill in Wenzhou were previous employees as well as creditors who had loaned money to Zhejiang Center Group.

Subprime crisis sweeps Wenzhou as bankrupt bosses flee

The east China city of Wenzhou is battling its own subprime crisis after seven local business owners fled recently, leaving thousands of employees in a state of shock and enormous unpaid loans in hundreds of millions of yuan.

Thursday, 29 September 2011

Hidden hazards in China’s role as potential saviour

Flush with trillions of dollars in cash, possible Beijing bailout of a battered Europe carries great risks

Tankers outstrip crude orders

Shipbrokers face surplus when new vessels launch and those relying on mainland demand will need to rethink strategy

Pilot property tax likely to go nationwide

A pilot programme to levy property taxes, the first of its kind in China, is helping cool price rises in Chongqing and will eventually be extended to the rest of the country, the mayor of the country’s biggest municipality told reporters.

Brakes on property boom impact borrowing costs

Local authority debts also a concern as trends point towards deepening of mainland economic slowdown

Hong Kong agents end flat-buying tours from mainland

Brokers halt ‘golden week’ visits as buying interest dives amid lending curbs and economic gloom

Wednesday, 28 September 2011

Blunt talk from China ex-premier stirs reform pot

Crumbling flood dykes in China decried as "tofu dregs" built by "parasites". Erring bankers lashed as "half-wits" and crime "accomplices". Special hotels for Communist Party elite dismissed as wasteful piles of "golden splendour".

Read on...