China

China’s crackdown on borrowing by local governments is forcing state-run entities in even some of the wealthiest provinces to tap costly credit from non-bank lenders, a stopgap that is increasing risk in an opaque corner of the financial system. The borrowing marks a return of China’s shadow-banking market, which is more loosely regulated than traditional lenders and had been reined in over the past few years in a bid to reduce risk. Since September, industrial investment arms and financing pla

The closure of Beyond Meat’s China business, despite heavy financing and marketing, underscores challenges that scuppered many vegan meat firms Only a few years ago, the notion that Beyond Meat – the former poster child of the plant-based meat industry – would shut down its operations in China seemed unthinkable. At the height of the brand’s popularity, its label could be found adorning heavily promoted products at restaurants and grocery stores across major cities.

Largest state-owned carriers including China Southern and Air China continue free refunds or itinerary changes amid diplomatic row Major Chinese airlines have extended their offer of full refunds for flights to Japan for another three months, as the heated diplomatic row between Beijing and Tokyo shows no signs of easing.