Xiaoxi Zhang
China Finance Analyst
Xiaoxi covers the Chinese financial system, including banking and capital markets. She joined Gavekal Dragonomics in 2019. She has a BA international finance from the Central University of Finance and Economics in Beijing, and an MA in applied economics from Cornell University.
For Xiaoxi's article archive click here.
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Gavekal Dragonomics
November 29, 2021
The Next Wave Of Bank Stress
The downturn in China’s property sector will be a strain on smaller banks, which are less well-capitalized and often more exposed to the real-estate sector than their larger counterparts. In this piece, Xiaoxi explains why regulators are likely to take a hands-off approach to the problem, tolerating bank closures and encouraging bank mergers.
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Gavekal Dragonomics
November 11, 2021
Mortgage Easing Begins
China’s outstanding mortgage loans grew in October, confirming anecdotal reports that banks have been allowed or encouraged to pick up the pace of mortgage lending. Wei and Xiaoxi explain that while more relaxation measures are likely on the way for property developers, it’s too early to say that their financial conditions are improving.
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Gavekal Dragonomics
October 25, 2021
No Respite For Real Estate
Troubled developer China Evergrande Group made an interest payment on a US dollar bond just before the 30-day grace period expired on October 23, narrowly avoiding a default. However, this does not mean the wave of developer defaults is over, or that the freeze in demand for developer debt has thawed.