Private lenders are charging up to 18 times the benchmark loan rate in Guangzhou, Guangdong province, with small and medium-sized enterprises (SMEs) finding it increasingly hard to get bank credit as a result of government tightening policies.
A top Chinese credit ratings agency has put two local government financing vehicles in the southwestern province of Yunnan on credit watch, the first such move since concerns mounted over potential defaults on local government debt.
Hong Kong-based media conglomerate eSun Holdings Ltd unveiled on Thursday its new entertainment arm, Media Asia Group Holdings Ltd, after completing the buyout of film production and distribution company Rojam Entertainment Holdings Ltd.
China CYTS Tours Holding Co Ltd, a leading tourism service provider in China, is seeking a stronger foothold in second- and third-tier cities, along with an improved service standard to survive weak inbound market growth, the agency's top executive said.
Shaanxi Yanchang Petroleum (Group) Co, China's fourth-biggest oil producer by output, is planning to strengthen its petrochemical division and cut the weighting of its oil and gas unit in its total portfolio, after its oil resources were squeezed by China's top three oil companies.