Loan
Economy
Inside China’s housing crisis: The shadow industry ‘saving’ homes from default
As mortgage defaults surge, a new “house retention” business promises Chinese homeowners a way to keep their properties — by buying back their own bad debts. But behind the quick fix lies a growing financial fault line in China’s real estate system. Lianhe Zaobao correspondent Li Kang finds out more.
Li Kang
22 Oct 2025
Economy
Why China’s banks are hunting for fortunes stashed abroad
In the past, Chinese banks and other financial institutions would write off the debts owed by failed companies and their wealthy founders who absconded overseas. Now, many financial institutions, faced with growing mountains of bad debt, are fighting to recover as much as they can, even if that means embarking on an international hunt for hidden assets.
Caixin Global
08 Aug 2025
Economy
The rise and fall of China’s ‘fentanyl king’ in corruption-fuelled bankruptcy
Once hailed as China’s “fentanyl king”, Ai Luming built a pharmaceutical empire from humble beginnings, only to see it unravel in a web of debt, failed financial bets and corruption scandals. Ai’s dramatic rise and fall expose the risks and realities facing China’s private sector in an era of tightening regulation and shifting fortunes.
Caixin Global
04 Jul 2025
Economy
AIIB, ADB or World Bank: Which is the bigger lender to Southeast Asian countries?
In the fight against the Covid-19 pandemic, various countries have extended support to nations in need, including those in Southeast Asia. There has been talk about possible shifts in the international balance of power. In terms of funding provisions to Southeast Asian countries at least, the pandemic does not seem to have made big dents to long-established patterns. The more established multilateral development banks - the World Bank and the Asian Development Bank - are still ahead of the Asian Infrastructure Investment Bank, but this could change in the near future with the latter stepping up its efforts in the region.
Malcolm Cook
22 May 2020