Tag: Chinese real estate

Shimao’s Default Deepens Concerns Over Cash Crunch in Chinese Real Estate Industry

January 11, 2022
Business & Economycash crunchChinaChina Business & Economychinese developerChinese real estateCompaniesdebt defaultreal estateshimao
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The Shanghai Stock Exchange briefly suspended trading of one of Chinese property developer Shimao’s bonds on Monday, following Friday’s suspension of trading in the firm’s five other bonds due to severe declines. The trading halt came as Shimao’s unit in Shanghai defaulted on a loan after missing a payment of over $100 million last week,…

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China Evergrande Ordered to Demolish 39-Building Resort

January 4, 2022
Business & EconomyChinaChina Business & EconomyChinese real estateCompanieseconomyfinancial crisisurban planning
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BEIJING—A troubled Chinese real estate developer that is struggling with $310 billion in debt announced Tuesday it has been ordered to demolish a 39-building resort complex in a new blow to its finances. Evergrande Group gave no explanation, but news reports said the government of Danzhou, a city on the southern island province of Hainan,…

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Beijing Plans To Turn Its Debt-Ridden Property Giants Into State-Owned Entities, Expert Says

December 30, 2021
CCPChinaChina Business & EconomyChinese real estateevergrandeKaisa
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New Analysis After two major Chinese property developers—Evergrande and Kaisa—defaulted on their bond payments, the Chinese Communist Party (CCP) reiterated its bid to rein in its debt-ridden property market. However, experts believe that the CCP intends to turn private enterprises into state-owned entities that bolster state control. The real estate sector was one of the…

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