China solar saga puts foreign lenders in the shade 1 Dec 2014 Troubled LDK Solar avoided liquidation after bondholders agreed to convert around $700 mln of offshore debt into shares. But the loss-making company owes mainland banks $2.5 bln. It’s a reminder that when things go wrong in China, overseas creditors are at the back of the queue.
China’s deposit guarantee is really the opposite 1 Dec 2014 A long-awaited plan to protect bank savings could have strange effects in a system where citizens believe the state stands behind almost everything. Those with wealth above the guaranteed limit may abandon small banks. The benefits will only kick when assurances are tested.