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.
-
Gavekal Dragonomics
May 11, 2021
The Screws Tighten On SOE Debts
China’s central authorities are ramping up their campaign to deal with hidden local-government debt, rolling out new rules and high-level political instructions. In this piece, Xiaoxi explains how this scrutiny will produce more defaults by state-backed firms, but also hopefully clarify the problematic legacy of implicit sovereign guarantees.
0 -
Gavekal Research
April 15, 2021
The Huarong Haircut
In the last two weeks, the bonds of Huarong Asset Management have slumped -30% or more in price in the offshore market, as investors fear either a default or a vicious restructuring which will force them to take painful losses.
-
Gavekal Dragonomics
April 12, 2021
Curbing Mortgage Enthusiasm
China’s regulators are strengthening their curbs on the property market as its post-pandemic exuberance continues. In this piece, Xiaoxi and Rosealea explain the central bank’s latest moves to curb disguised mortgage lending and cap overall loan growth. The main effect of these controls will be to slow lending to households and cool housing prices.