ATI Newswire - Subscriber Only

China to prop up machine tool company with US$1.4 billion lifeline

May 5, 2017

SHANGHAI - Shenyang Machine Tool, based in Liaoning province’s namesake provincial capital, will receive a major support package from China Construction Bank and the Shenyang branch of the State-Owned Assets Supervision and Administrative Commission (SASAC), the agency that oversees big State-run companies and is one of Shenyang Machine Tool’s major stakeholders.

AIIB approves first loan to India, for power project

May 5, 2017

BEIJING - The China-led Asian Infrastructure Investment Bank (AIIB) has given a green light to its first loan to India, granting US$160 million to a power project endorsed by New Delhi. The funds will be used to strengthen the power transmission and distribution system in the southeastern state of Andhra Pradesh, which is part of the Indian government’s Power for All program, the AIIB said in a statement.

Shadow banking risks escalating in China, despite improved real economy: Natixis

April 29, 2017

HONG KONG - GDP data confirms that China’s economy is strengthening (6.9% growth year on year), marginally beating market expectations and last quarter’s growth rate (6.8%), says global asset manager Natixis. “Although growth in the tertiary sector retreated (16Q4: 8.3%; 17Q1: 7.7%), the contribution of final consumption to GDP increased again (16: 71%; 17Q1: 77%) in line with very strong consumer confidence (highest level since 2008),” it says.