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Recovery of world’s second-biggest economy held back by severe property slump and lacklustre global demandChina’s president, Xi Jinping, acknowledged in his new year’s message that “some enterprises had a tough time” in 2023 as data showed a weakening …
Read MoreEvergrande has filed for bankruptcy protection and firms covering 40% of Chinese home sales have defaultedChina’s property crisis has deepened with two major developers facing severe financial difficulties that threaten to send shock waves through the …
Read MoreTanker blocked canal for hours, close to where Ever Given container ship became stuck, disrupting supply chains for a weekA tanker getting stuck used to be more the domain of niche business news, but that was before the Ever Given, so all eyes were soo…
Read MoreFears over contagion mount as a company once considered financially sound is running out of cash to pay its debtsA Chinese developer previously considered financially sound is embarking on a fire sale of assets as the contagion of bad debts built up wi…
Read MoreHouse prices, sales and construction all fell in November as Shimao Group shares plunge and Beijing assesses what to do with EvergrandeChina’s giant housing market has continued to decline in the past month and another major developer showed signs of f…
Read MoreXi Jinping’s mission is not only to control the housing bubble but rein in untethered industries and foreign capitalChina’s economy has become heavily dependent on property development over the last decade. High-rise apartments have mushroomed across h…
Read MoreSuspension comes amid concerns Kaisa, China’s largest holder of offshore debt after Evergrande, may not meet a $400m repayment deadlineTrading in shares of embattled Chinese developer Kaisa Group Holdings have been suspended on the Hong Kong stock exch…
Read MoreBeijing to increase business lending and build more affordable housing, but reports say property giant has missed a key bond repaymentChina’s politburo has signalled measures to kickstart the faltering economy as the crisis gripping the country’s debt-…
Read MoreEven if the embattled property giant manages to avoid default again, many other firms are heading the same way, warns S&POne third of China’s property developers will struggle to repay their debts in the next 12 months, according to a new report, a…
Read MoreHousing activity accounts for 29% of GDP, but Evergrande’s debt crisis is sign that things could soon changeIn China today, the buzz is all about how the government there too has stumbled into an energy crisis with widespread power cuts. Yet this and o…
Read MoreTrading halt sends markets Asian stocks falling amid speculation debt-laden group will sell off property management armTrading in shares of debt-laden China Evergrande has been suspended by the Hong Kong exchange after the enormous Chinese developer mi…
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