"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-04-29T14:16:37Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2022/04/29/shanghai-covid-lockdown-china-economy-lu-stout-vpx.cnnbusiness"
data-branding-key=""
data-video-slug="shanghai covid lockdown china economy lu stout vpx"
data-first-publish-slug="shanghai covid lockdown china economy lu stout vpx"
data-video-tags="asia,business, economy and trade,china,continents and regions,coronavirus,diseases and disorders,east asia,east china,economic indicators,economy and economic indicators,health and medical,infectious diseases,kristie lu stout,life forms,microscopic life,misc people,respiratory diseases,shanghai,viruses"
data-details="">
Video Ad Feedback
Analyst: 'Lockdown in Shanghai will rock China's economy'
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-02-01T17:18:13Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2022/02/01/soros-on-china-and-xi-jinping-orig.cnn-business"
data-branding-key=""
data-video-slug="Soros on China and Xi Jinping orig"
data-first-publish-slug="Soros on China and Xi Jinping orig"
data-video-tags=""
data-details="">
Video Ad Feedback
"China is facing an economic crisis": Soros on China and Xi Jinping
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-01-17T16:40:30Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2022/01/17/china-gdp-economy-patrick-chovanec.cnnbusiness"
data-branding-key=""
data-video-slug="china gdp economy patrick chovanec"
data-first-publish-slug="china gdp economy patrick chovanec"
data-video-tags="asia,business and industry sectors,business, economy and trade,china,continents and regions,east asia,economic conditions,economy and economic indicators,real estate"
data-details="">
Video Ad Feedback
Covid and the real estate crisis weigh on China's economy
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2022-01-14T09:17:09Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2022/01/14/hong-kong-zero-covid-supply-chain-lu-stout-pkg-intl-hnk-vpx.cnn"
data-branding-key=""
data-video-slug="Hong Kong zero covid supply chain lu stout pkg intl hnk vpx"
data-first-publish-slug="Hong Kong zero covid supply chain lu stout pkg intl hnk vpx"
data-video-tags="asia,border control,china,communicable disease control,continents and regions,coronavirus,coronavirus pandemic,diseases and disorders,east asia,epidemics and outbreaks,health and medical,hong kong,infectious diseases,international relations,international relations and national security,kristie lu stout,life forms,microscopic life,misc people,national security,public health,respiratory diseases,territorial and national borders,viruses"
data-details="">
Video Ad Feedback
Pandemic empties one of the world's busiest airports
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2021-12-29T22:45:55Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/media/2021/12/29/hong-kong-news-outlet-closes-police-raid-stand-news-pkg.cnnbusiness"
data-branding-key=""
data-video-slug="hong kong news outlet closes police raid stand news pkg"
data-first-publish-slug="hong kong news outlet closes police raid stand news pkg"
data-video-tags="activism,arrests,asia,business and industry sectors,business, economy and trade,china,continents and regions,crime, law enforcement and corrections,criminal law,democracy,east asia,forms of government,government and public administration,hong kong,ivan watson,journalism and news media,law and legal system,law enforcement,media industry,misc people,policing and police forces,politics,society"
data-details="">
Video Ad Feedback
Hong Kong independent news outlet closes after police raid and arrests
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2021-12-28T21:58:37Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2021/12/28/space-x-china-satellite-elon-musk-starlink.cnnbusiness"
data-branding-key=""
data-video-slug="space x china satellite elon musk starlink"
data-first-publish-slug="space x china satellite elon musk starlink"
data-video-tags="asia,aviation and aerospace industry,business and industry sectors,business figures,business, economy and trade,china,companies,continents and regions,east asia,elon musk,government and public administration,government bodies and offices,government departments and authorities,international relations,international relations and national security,ivan watson,misc people,north america,roads and traffic,satellite industry,space and astronomy,space exploration,space industry,space stations,spacecraft and satellites,spacex,state departments and diplomatic services,technology,telecommunications industry,the americas,transportation and warehousing,transportation infrastructure,united states"
data-details="">
Video Ad Feedback
China slams Elon Musk and US claiming SpaceX satellites endangered Chinese
"
data-check-event-based-preview=""
data-is-vertical-video-embed="false"
data-network-id=""
data-publish-date="2021-12-21T14:59:39Z"
data-video-section="business"
data-canonical-url="https://www.cnn.com/videos/business/2021/12/21/china-government-fines-livestreamer-viya-tax-evasion-lkl-intl-vpx.cnn"
data-branding-key=""
data-video-slug="china government fines livestreamer viya tax evasion lkl intl vpx"
data-first-publish-slug="china government fines livestreamer viya tax evasion lkl intl vpx"
data-video-tags="arts and entertainment,asia,broadcasting industry,business and industry sectors,business, economy and trade,celebrities,celebrity and pop culture,china,consumer behavior,continents and regions,crime, law enforcement and corrections,criminal offenses,digital and streaming video,east asia,economic indicators,economy and economic indicators,fines and penalties,fraud and financial crimes,government and public administration,internet and www,internet broadcasting,law and legal system,media industry,movie and video industry,newspapers,public finance,publishing industry,social media,streaming media,tax avoidance,tax fraud,taxes and taxation,technology,trial and procedure"
data-details="">
Video Ad Feedback
Chinese 'live-streaming queen' hit with huge tax evasion penalty
Chinese property developer Kaisa Group Holdings Ltd has begun talks with some of its offshore bondholders over extending the deadline for a $400 million debt repayment due next week, two sources with direct knowledge of the matter said.
Shares in the group slipped sharply on Friday after it said it had failed to secure the minimum 95% approval needed from offshore bondholders to carry out an exchange offer of its 6.5% offshore bonds due Dec. 7, without which it could risk default.
A group of offshore bondholders who say they own 50% of the debt in question and their financial advisor sent Kaisa a letter earlier this week offering extra time to negotiate the repayment of the bond and avoid a default.
The bondholders also tabled an offer to provide $2 billion worth of fresh funding to Kaisa, but major progress has not been made on that offer, according to the sources, who declined to be named as they were discussing confidential information.
Shares of the embattled property firm closed down 8.82% on Friday, taking the stock’s plunge so far this year to around 75%.
The company had hoped to exchange the $400 million 6.5% offshore bonds for new notes due June 6, 2023 at the same interest rate if at least 95% of holders accepted. It did not disclose how many bondholders had consented to the offer.
Kaisa, which became the first Chinese property developer to default on its dollar bonds in 2015, said it had been in talks with representatives of certain bondholders, but that no “legally binding agreement” had yet been entered into.
“To ease the current liquidity issue and reach an optimal solution for all stakeholders, the company is assessing and is closely monitoring the financial condition and cash position of the group,” it said on Friday.
It added that it still exploring selling assets and extending or renewing debt obligations, but cautioned there was no guarantee it would be able to meet the Dec. 7 maturity.
A failure to repay or reach an agreement with creditors would have “a material adverse effect” on Kaisa’s financial condition, it said.
Kaisa is the second-largest dollar bond issuer among China’s property developers after China Evergrande Group, which has more than $300 billion in liabilities, and like the others has been scrambling to raise capital to stave off a default.
