2019 第四季度 中国地区破产报告
· Compared with the past 2 years (+74% for 2017, +50% for 2018), the number of insolvency cases in China is expected to keep growing but at lower pace in 2019 (+~20%, same as previous expectation) and in 2020 (+~10%)
· The number of new bond default companies in Chinese market decreased from 44 in 2018 to 39 in 2019.
· The official manufacturing PMI in December shows the overall manufacturing industry is expanding, while the small-scale enterprises are still struggling.
· On January 1 2020, PBOC, the central bank of China, announced to inject RMB 800 billion/EUR103 billion in the financial sector via cutting the reserve requirement ratio (RRR) for banks by 0.5 %.
· U.S.-China trade tensions temporality eased with a superficial phase one deal between the U.S. and China in January 2020.