• Real Estate

    Expect more defaults from Chinese property developers: Loomis Sayles

    Investors could expect more Chinese property developers to default on bond payments, but troubles in the real estate sector have not spilled over to other industries, an analyst said Tuesday. Financial distress among Chinese real estate firms came to forefront in the last few months as Evergrande and other developers struggled to repay their debt. Evergrande appeared to have averted a default after reportedly remitting funds for an interest payment last week. “Most likely we are going to see more defaults … of these developers,” Bo Zhuang, senior analyst at investment firm Loomis Sayles, told CNBC’s “Street Signs Asia.”  Read  

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  • Real Estate

    These 4 Chinese real estate developers are already in trouble

    Embattled conglomerate Evergrande rattled global markets in September by warning it could default on its huge debts. Since then, more developers have made similar public confessions, unnerving investors and raising fears of contagion across the vast sector. It’s unclear how the crisis will be resolved. The companies could try to restructure their debts and work things out with their lenders. They could also seek bailouts from the Chinese government, but so far Beijing has said little on the issue besides promising to protect homebuyers. The final — and worst — option would be a disorderly series of defaults, which would  

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  • Real Estate

    Chinese regulators meet with developer Evergrande as scrutiny on real estate grows

    A banner promoting the Emerald Bay residential project outside the China Evergrande Centre in the Wan Chai area of Hong Kong, China, on Friday, July 23, 2021. Lam Yik | Bloomberg | Getty Images BEIJING — Chinese authorities called for indebted property giant Evergrande to resolve its debt risks during a rare meeting with executives Thursday. Shares of Hong Kong-listed China Evergrande Group have tumbled more than 60% this year to near four-year lows as investors worried about the developer’s ability to repay its debt. The stock closed 1.6% lower Friday, giving up initial gains. The People’s Bank of China  

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