Chinese banks’ bad loans increased for the ninth straight quarter to the highest level since the 2008 financial crisis, highlighting pressures on asset quality and profit growth as the world’s second-largest economy slows.
China’s eleventh-hour rescue of wealthy investors in a high-yield trust threatens to drive more money into the nation’s $6 trillion shadow-banking industry, undermining regulators’ efforts to deter excessive risk-taking.
China’s interest-rate swaps jumped the most in three years last month on speculation the central bank will raise borrowing costs further to rein in the fastest inflation since 2008 as foreign capital surges into the nation.
China Wireless Technologies Ltd., the nation’s third-largest smartphone vendor, said it will eventually overtake market leaders Samsung Electronics Co. and Lenovo Group Ltd., helped by demand for low-cost phones.
Apple Inc. is being outsold in China, the world’s largest handset market, by a company less than 1 percent its size, highlighting how the lack of low-cost products limits the iPhone-maker in emerging nations.
The People’s Bank of China pushed up yields on one-year bills for the first time in four months, boosting returns to draw funds after rates for interbank loans surged to the highest level since August 2008.