Headlines:

China cuts reserve ratio, pledges housing support after latest default

BEIJING: China on Monday announced a reserve ratio cut and renewed support for the housing market as another Chinese property developer said it had defaulted on a major bond repayment. The central bank said it would cut the reserve requirement ratio by 0.5 percentage points for most banks, effective December 15. The move reduces the … Read more

Chinese developer misses major bond repayment of $179 million

BEIJING: Another Chinese property developer said on 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 rules and launched a regulatory assault … Read more