Asia

China's overall government debt ratio remains low compared with other major economies, and the country's local government bond debt risk is controllable, as a strong economic rebound provides support for local government financing vehicles' (LGFVs) debt repayment capability, analysts said. The comment came after a new round of Western media hype over China's alleged local government debt problem while choosing to neglect facts as well as the Chinese central government and provinces' efforts in dissolving local government debt. For example, the New York Times plastered the sensational headline "China's cities are buried in debt," and the Economist claims that "China's cities are on the verge of a debt crisis." Chinese local government debt includes outstanding local government bonds ...

According to Kong Xianhua, Consul General of the People's Republic of China, India hardly sends $30 billion worth of commodities to China while the latter purchases $2 trillion worth of items from all over the world. At an interactive event hosted by the MVIRDC World Trade Center Mumbai, the Consul General said, "We are keen to promote a balanced trade with India." Indian businesses should seriously consider entering the Chinese market by promoting their regional brands there. In order to explore the enormous untapped export potential for India, Xianhua invited Indian businesspeople to go to China and find prospective customers for their goods. Xianhua said, "I hope to encourage bilateral exchange of trade and business delegation to boost two-way trade and investment. Many Chines...

According to market papers on Monday, Chinese liquor producer ZJLD Group plans to raise up to HK$6.37 billion ($811.5 million) in an IPO in Hong Kong, the highest in the financial hub this year. A total of 490.7 million shares are being offered by the business, which is supported by American private equity behemoth KKR & Co Inc (KKR.N). Each share will cost between $HK10.78 and $HK12.98. According to the documents, it would result in it raising $674 million to $811.5 million. ZJLD would have a maximum market value of $5.4 billion. Shares are scheduled to begin trading on April 27 once the final price is decided on Thursday. According to the documents, there is also a "greenshoe" option to sell an additional 73 million shares, which could bring in an additional $122 million. ...

In the strait, the cruise ships "transited through a corridor that is beyond the territorial sea of any coastal State," according to the statement. In its first transit of the Taiwan Strait since China conducted a significant encirclement exercise around Taiwan, the US Navy has sailed a warship. The USS Milius' Sunday passage in the strait, according to the US 7th Fleet, was regular. In the strait, the cruise ships "transited through a corridor that is beyond the territorial sea of any coastal State," according to the statement. In response for Taiwan's President Tsai Ing-wen's meeting with US House Speaker Kevin McCarthy on a visit to the US earlier this month, China staged several military exercises in the Taiwan Strait. China said on Wednesday that the mock encirclement maneuv...

According to a recent study by a Delhi-based organization, China has been mocking Bhutan's sovereignty and territorial integrity for decades by depicting substantial portions of Bhutan as being in its territory and sometimes by erecting massive facilities there. Red Lantern Analytica claims that the majority of these unlawful sites have been attempted to be built in the disputed territories. The article emphasized the Doklam plateau problem by stating that China is claiming ownership of the whole plateau. India, in contrast, has continued to honor old accords. In accordance with accords like the Friendship Treaty, Bhutan promised to coordinate its foreign policy with India. Bhutan is now under pressure from China to reverse course. Bhutan's Prime Minister Lotay Tshering recently sai...

According to the most recent Morgan Stanley prediction, Asian economies would outperform their western counterparts by 5% by the end of 2023 as a result of robust domestic demand and financial stress in the US and Europe. China will play a significant role in enhancing Asia's economic performance after loosening its COVID limits. According to MS Asia economists headed by Chetan Ahya in a note dated Tuesday, the current financial crisis in the U.S. and Europe makes the argument for Asia's superior performance even stronger. She also said that the aggressive rate rises by central banks to tighten lending criteria in the US and Europe may continue. The measure will eventually have an effect on domestic demand. Additionally, according to Chetan Ahya, the effect would spread throughou...

The Washington-based fund now projects that the Asia Pacific region's GDP will total 4.6% this year, which is about 0.3 percentage points quicker than predicted in October and is mostly attributable to China's openness. According to the International Monetary Fund, China and India will together contribute for almost half of global growth this year, highlighting Asia's growing influence on the global economy. The Washington-based fund now projects that the Asia Pacific region's GDP will total 4.6% this year, which is about 0.3 percentage points quicker than predicted in October and is mostly attributable to China's openness. According to the IMF, the area as a whole will contribute more than 70% of global growth this year. According to Krishna Srinivasan, head of the IMF's Asia and P...

In February, despite reduced credit growth, the proportion of bad loans to the overall loan book in the banking sector increased for the second consecutive month. The percentage of bad debts in the entire loan book of the banking industry increased for the second consecutive month in February despite slower credit expansion brought on by the Bangko Sentral ng Pilipinas' (BSP) string of aggressve rate rises. The non-performing loan (NPL) ratio of Philippine banks increased slightly from 3.28 percent in January to 3.31 percent in February, according to preliminary statistics from the central bank. After peaking at 4.24 percent in 2017, the industry's NPL ratio progressively increased to a two-year low of 3.17 percent in December. The ratio reached its highest point in July and Augu...