Other than Chinese government credit what foreign creditors lend money to the Chinese construction industry. To which international creditors (if any) are the payments on dollar-denominated bonds that I have read about actually due to?
Not likely anyone other than China State owned banks.
China’s banking sector had CN¥319.7 trillion (US$49.5 trillion) in assets at the end of 2020.[1] The “big four/five” state-owned commercial banks are the Bank of China, the China Construction Bank, the Industrial and Commercial Bank of China, and the Agricultural Bank of China, all of which are among the largest banks in the world As of 2018. The Bank of Communications is sometimes included. Other notable big and also the largest banks in the world are China Merchants Bank and Ping An Bank.
One commentary I read on the Chinese financial situation mentioned that a lot of these large apartment block developments involve arrangements between local city or provincial governments and the developers. Not clear whether this means these governments have loaned money to the developers too, but local government debt in China is apparently also an issue.
Thanks Omar_Little.
You can buy shares in the aforementioned banks if they are traded on nasdaq or nyse exchanges… I held some shares in Bank of China and several other banks/ financial companies in China. All listed on either exchanges… I got out of most of them around the time Covid started and Evergrande started hinting that they were not doing well… I also had to report ownership on my taxes every year, and pay taxes on the sale to Chinese IRS, broker account handled all that for me.
So it conceivable American banks might get some kind of loss if they invested in Chinese banks stocks or Evergrand shares some how.