Indebted Chinese developer Evergrande is set to sell off a 9.99 billion yuan ($1.5 billion) stake it owns in a Chinese bank to a Chinese state-owned asset management firm.
Foreign companies are trying to hold on to lucrative opportunities in China, even if new regulations and the pandemic have made global operations harder.
China’s application to join the mega trade pact stands in contrast to the U.S.’ lack of economic policy in Asia-Pacific, analysts said.
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Some crypto holders in China and Hong Kong are scrambling to safeguard their crypto assets, according to an attorney who works with overseas crypto clients.
Chinese property developer Evergrande has not said whether it will fulfil its interest payments to investors on its U.S.-dollar bond.
Questions remain over whether embattled Chinese developer China Evergrande Group will pay the interest due on a dollar-denominated bond on Thursday.
After Monday’s market turbulence, the Fed’s challenge will be to sound reassuring while acknowledging it is getting ready to move away from its easy policy.
Strategists do not now expect financial contagion from the crisis at a large Chinese property developer, but they do say there could be economic impact.
Markets in mainland China, Japan and South Korea are closed on Monday for a holiday.