The Chinese corporate bond market is being tested.
Last year, the creditors of the world’s most-indebted real estate developer, Evergrande, gathered for a signing ceremony in Beijing where they agreed not to force the company to pay them their debt. A photo from the event shows Zhang Jindong, a Chinese tycoon and then-chairman of Nanjing-based retail giant Suning, standing next to his longtime friend, Evergrande’s chairman Xu Jiayin, and clapping unenthusiastically.
That day, Zhang helped his friend avoid a near-term cash crunch by waivin
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For much of the past two decades, Europe's luxury market has counted on the ferocious appetite of Chinese consumers to bolster its bottom line. But foreign luxury brands are facing a reckoning in China. Not only is China’s economy entering a more uncertain phase, giving consumers pause, but homegrown designers and labels are also gaining ground. The questions now are which European brands can still rely on China, and how China's domestic designers can capture a share of the pie.
The Treasury’s top international official gives an inside-the-room account of the latest talks between Treasury Secretary Yellen and the Chinese leadership, including the U.S.’s efforts to get Beijing to address overcapacity and economic imbalances, how...
A podcast about how the two nations, once friends, are now foes.
Hear why things are so complicated now. Host Jane Perlez, former New York Times Beijing bureau chief, talks with diplomats, spies, cultural superstars like Yo Yo Ma, and more to understand why the dangers are so high, and why relations went awry.