China's biggest private developer says it faces default risks, while creditors prepared to vote on its proposal to delay payment for an onshore private bond; offshore creditors have in talks with a US law firm

Decision comes as state banks are tipped to cut interest rates on existing mortgages, while other cities could follow Guangzhou's move

China responds positively to Commerce Secretary's blunt remark that US companies complained to her that China has become "uninvestible"

Commerce Secretary has raised many important bilateral issues on her Chinese visit – from firms caught in the "chip war" to climate change and artificial intelligence

A record 38 QDII funds had been launched this year for Chinese investors seeking exposure to foreign assets

Government's optimism that the economy is nearing an end to a period of prolonged stagnation echoes views from the Bank of Japan, which has said corporate price- and wage-setting behaviour is changing

The cause of the malfunction was not clear, but it comes amid an alert over harassing phone calls, likely from China, related to Japan's release of treated radioactive water from Fukushima nuclear plant

US Commerce Minister meets counterpart Wang Wentao in Beijing, notes that 99% of their $700bn in bilateral trade does not involve national security; vows to be 'direct, open, practical'

Impacts felt by currencies such as the Aussie dollar, and across many sectors such as New Zealand dairy products, shares of luxury goods, to miner BHP and the Las Vegas Sands casino firm

Evergrande said its ability to continue will depend on implementation of its offshore debt restructuring plan, and successful talks with the rest of the lenders on repayment extensions

A new study by a US medical research centre suggests 1.9 million people died after China suddenly dropped its Covid-19 restrictions late last year. Beijing has never revealed the full death toll.

Japan’s Nikkei 225 slumped by over 2%, while Hong Kong’s Hang Seng and South Korea’s KOSPI were down 2% and 0.7%, amid fears of more hawkish signals from the Fed later today