China listings creating billionaires at record pace

China listings create billionaires at record pace

China is minting new billionaires at a record pace despite an economy bruised by the coronavirus pandemic, thanks to booming share prices and a spate of new stock listings, according to a list released on Tuesday. The Hurun China Rich List 2020 also highlights China's accelerated shift away from traditional ...

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Ant Group 'gets nod' for HK leg of $35bn dual listing

Ant Group gets nod for HK leg of $35bn dual listing

Ant Group has won approval from China's securities regulator for the Hong Kong leg of its roughly $35 billion dual listing, sources have told news agencies. The fintech giant plans to list in both Hong Kong and on Shanghai's STAR Market in an initial public offering (IPO) early next month ...

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Chinese developers face $53bn debt tsunami

Developers face $53bn debt tsunami

(ATF) Real estate companies are facing a surge of bond defaults as a one-third of a trillion yuan of debt as the once-booming industry struggles to recover from the pandemic downturn. With financing costs rising, debt loads climbing and falling sales eroding liquidity, many firms will be unable to pay ...

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China cuts rare earths exports by 43% in Sept, builds stockpile

China cuts rare earth exports by 43% in Sept, builds stockpile

(ATF) China's rare earth exports fell sharply again in September – by nearly 44%, causing the United States to step up operations and enter a 'state of emergency'. China announced a huge drop-off in rare earth exports for September, while other figures show China is massively increasing production by huge ...

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China's Xi praises Shenzhen, backs property rights

China's Xi praises Shenzhen, backs property rights

Shenzhen will boost property rights and protection of entrepreneurs, China's President Xi Jinping said on Wednesday in a speech to mark the establishment of the country's first economic zone in the southern city four decades earlier. In his speech, Xi praised the city for "achieving miracles" and said it "must ...

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China’s real estate black hole grows as govt mulls takeovers

China’s real estate black hole grows as govt mulls taking over sector

(ATF) As yet another large real estate firm dips into default, China’s housing market looks to be in the middle of a crisis. Indeed, it looks increasingly like the government will step in – to take over real estate companies so that housing becomes affordable again and does not distract ...

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Massive beryllium find raises stakes in rare earth tensions

Massive beryllium find in China raises stakes in rare earth tensions

(ATF) Chinese survey teams have found numerous deposits of a rare metal used in the manufacture of nuclear energy and rockets, potentially adding another point of tension surrounding Beijing’s hopes to dominate supply of the valuable minerals. In “grey stones” discovered in China’s northwestern Xinjiang region the teams found one ...

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