Today news
About the same in other media
Third of Chinese developers could face debt problems as Evergrande contagion grows – report
Reading now: 707
theguardian.comOne third of China’s property developers will struggle to repay their debts in the next 12 months, according to a new report, as the sector reckons with increasingly serious headwinds from falling sales, restricted access to credit and a wider downturn.
Even if the embattled developer Evergrande manages to meet its latest debt repayment on Friday and head off a potentially disastrous default, analysts at the credit rating agency S&P warned that many other property companies could be heading towards bankruptcy.
The financial contagion sweeping through the sector represents a serious risk for China – and the global economy – as its investment and construction driven model of growth begins to creak under the strain of mind-boggling debts.
China
Read more on theguardian.comAbout this in other media
Did conflicting reports about Evergrande defaulting cause Bitcoin to tank? cointelegraph.com /3 years ago
Evergrande plunge wipes $250m off BlackRock, Vanguard holdings fnlondon.com /3 years ago
China's property market could see more pain, even as Evergrande crisis seems to be abating cnbc.com /3 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
