HONG KONG: Chinese real estate firm Shimao Group’s share price plunged to its lowest level in a decade on Tuesday, adding to the concerns over the country’s heavily indebted property sector. The Chinese property firms have struggled in the wake of Beijing’s drive last year to curb excessive debt in the real estate sector, as well … Read more
BEIJING, Dec 6, 2021 (AFP) – Another Chinese property developer said Monday it had defaulted on a major bond repayment, citing liquidity problems amid a government crackdown on the debt-laden sector. China’s real estate industry — a key growth driver in the world’s second-largest economy — has cooled in recent months after Beijing tightened home buying … Read more
BEIJING: Embattled Chinese developer Kaisa Group is facing a default after saying on Friday it had failed in a bid for a debt swap that would buy it crucial time, warning there was “no guarantee” it would be able to meet its payment obligations. The company is one of several real estate firms that have plunged … Read more
BEIJING: Chinese developer Kaisa Group suspended trading in its Hong Kong-listed shares on Friday, raising concerns about a deepening cash flow crisis at the firm, as China’s crucial property sector comes under intense pressure. The announcement came as a liquidity crisis at one of the nation’s biggest property developers, China Evergrande, throws a spotlight on the … Read more
