China's property sector is central to its economy. Getty Images China's Evergrande crisis is spreading to the rest of the property sector, with numerous companies defaulting. Fantasia, Sinic and China Properties Group are among the other developers to have failed to meet payments. Economists worry that contagion in the property sector could knock out a key engine of Chinese growth. Evergrande Evergrande is teetering on the brink of default. STR/Getty images China's property developers have grown at breakneck speed over the last decade, powered by huge amounts of debt.
The Evergrande Crisis Is Spreading. Here Are Other Chinese Property Developers That Are In Default Or Wobbling.
hrobertson@businessinsider.com (Harry Robertson), Business Insider
Sat, 10/23/2021 - 3:00am
Topics: b+ economists pan jun macroeconomics china news service/getty images fitch ratings wong sai chung cpg hong kong zhang peng/getty xinyuan real estate johannes eisele/getty images pressure cc greenland holding group str/getty images read china getty images fantasia sinic properties group chinese evergrande str/getty south morning post/getty sinic holdings fitch it china properties group modern land xinyuan greenland default property developers million sector earlier dollar mid-sized interest company economy payments pay failed months monday offshore payment worth ndash investors funding month smaller thursday downgraded numerous companies sales revenue faces due costs chairman article swap cash meaning filing wednesday
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