Shanghai Securities News:

In mid-March the China Banking Regulatory Commission issued a circular to banks to tighten lending policies to industries identified as having overcapacity issues (for example, the steel and cement sectors).
Urged banks to stop giving credit support in any form, including loans and shadow banking channels, to any illegal investment projects in such industries
Also urged the banks to get clearer pictures of their exposure to these industry sectors and actively reel back existing loans, albeit in a stable manner.

This item was in Friday’s Shanghai Securities News, reported via MNI.

ако не е нахално - да се възползвам - би ми било любопитно да прочета (ако сте запознат или сте виждали) какво става при фалит на юридическо лице в китай - например какви са реално процедурите, собствениците и мениджърите носят ли някаква отговорност (имуществена или наказателна) и т.н. също така как стои въпросът ако кредитополучателят е физическо лице - има ли погасителна давност на задълженията, други членове на семейството считат ли се за отговорни за дълга и ако да - до кое родство и т.н.
въобще каквото сметнете за полезно да споделите по темата за китай ще е интересно.

p.s. относно вметката за субективното при прогнозите - това е предмет на отделна дискусия, най добре го е казал yogi bear: in theory there is no difference between theory and practice. in practice there is.

Chinese officials aren’t required to disclose their assets publicly and until now citizens have remained largely in the dark about the parallel economy that can allow the powerful and well-connected to avoid taxes and keep their dealings secret. By some estimates, between $1 trillion and $4 trillion in untraced assets have left the country since 2000.

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Jiang Zemin, the former Chinese president, has urged the current leadership to rein in the toughest anti-corruption campaign in decades, which is threatening the interests of some Communist party elders.

Mr Jiang, who stepped down as president of China in 2003 but retained control of the military for a further two years, has sent a clear signal in the past month to Xi Jinping, the president, according to three people familiar with the matter.


Mr Jiang sent a message saying “the footprint of this anti-corruption campaign cannot get too big” in a warning to Mr Xi not to take on too many of the powerful families or patronage networks at the top of the party hierarchy.

Former President Hu Jintao, who was replaced by Mr Xi a year ago, has also expressed reservations about the anti-corruption drive and warned his successor not to expand it too far, according to one person involved in executing the campaign.

President Xi has made tackling corruption and official largesse the centrepiece of his presidency, vowing to tackle powerful “tigers” (high-ranking officials) as well as “flies” at lower levels in the bureaucracy.

In the coming weeks, the authorities are expected to reveal public charges against one of the biggest tigers in the Chinese system: Zhou Yongkang, the former head of the domestic security apparatus.

Mr Zhou was detained by Communist party investigators late last year along with hundreds of family members and allies throughout the security services, energy industry and political bureaucracy.

If he is put on public trial, he will be the most senior Chinese official to face such charges since the founding of the People’s Republic in 1949.

Mr Hu and Mr Jiang have been broadly supportive of the anti-corruption drive until now and both accepted Mr Xi’s decision to purge Mr Zhou, even though Mr Zhou was a Jiang ally for many years, according to people familiar with top leadership discussions.

But both leaders think the campaign has gone far enough and that further escalation could harm their own interests or those of their respective factions.

In Mr Hu’s case, there have been persistent rumours that Mr Xi intends to open investigations into key allies, including Ling Jihua, head of the United Front Work Department of the Communist party.

Mr Ling’s son died in a Ferrari crash in 2012 that raised questions about the wealthy lifestyles of “princeling” children of top officials.

Apart from concerns about attacks on their patronage networks, Mr Hu and Mr Jiang are worried that a campaign that lasted too long and was too harsh could erode support among the Communist party’s rank and file and threaten the stability of its rule.

“There is a crucial moment in negotiated transitions and in some velvet revolutions when a large portion of existing power holders start defecting,” said Timothy Garton Ash, professor of European studies at the University of Oxford. “The Chinese Communist party has studied those histories closely and is well aware that its most important constituency is its own bureaucracy.”

Using corruption allegations to purge a high-ranking official is a time-honoured tradition for new presidents in China.

Both Mr Hu and Mr Jiang moved early in their terms to dispose of prominent rivals whom they accused of corruption and jailed, but neither of their targets was as formidable as Mr Zhou.

Most global luxury companies have reported declining Chinese sales of their products, which have been favoured as gifts and bribes for officials for years.

In the past few weeks, producers of high-end spirits like Diageo, Pernod Ricard and Rémy Cointreau have reported double-digit first-half collapses in sales in China and have explicitly blamed Beijing’s austerity drive for their woes.

Using corruption allegations to purge a high-ranking official is a time-honoured tradition for new presidents in China.

Both Mr Hu and Mr Jiang moved early in their terms to dispose of prominent rivals whom they accused of corruption and jailed, but neither of their targets was as formidable as Mr Zhou.

Most global luxury companies have reported declining Chinese sales of their products, which have been favoured as gifts and bribes for officials for years.

Обобщение - държави като САЩ и Китай са с огромни ресурси в икономически, политически, военен и друг аспект. Това ги прави практически неуязвими от разни там икономически несгоди, които може да са проблем за малки страни, но не и за гиганти като тях, които имат механизмите, връзките и възможностите да се оправят доста по-добре, отколкото малките зависими и полузависими държави по света.