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.
Similar Stories to The Evergrande Crisis Is Spreading. Here Are Other Chinese Property Developers That Are In Default Or Wobbling. on Bing News
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
BING NEWS:
- Too big to stand: Why China’s property sector was riding for a fall
Academics at Michigan University argue that China’s property-sector woes may have causes beyond the overambition of developers and the government’s actions to limit the ballooning debt in the sector.
05/3/2024 - 1:28 am | View Link - China Housing Market Crisis Given New Theory
The concentration of China's property sector in the hands of the country's largest firms has caused the market's downfall, a new study found.
05/2/2024 - 11:22 pm | View Link - Research reveals overlooked factor driving China's real estate crisis
The default of Evergrande, one of China's largest developers, set off a chain of defaults among developers, triggering the ongoing property market crisis in China.
04/30/2024 - 8:47 am | View Link - Court orders China Evergrande property developer to liquidate after it failed to reach debt deal
The liquidation order is likely to impact China’s financial system, even as authorities try to prevent a selloff in the Chinese ... in the property sector, which has been slumping as developers ...
04/29/2024 - 1:00 pm | View Link - Chinese property developer Kaisa's liquidation hearing adjourned to May 27
A Hong Kong court adjourned a hearing to liquidate Kaisa Group to May 27, as the embattled Chinese property developer said it aims to iron out restructuring terms in the coming four weeks.
04/28/2024 - 4:48 pm | View Link - More
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