{"id":40538,"date":"2022-01-11T15:24:56","date_gmt":"2022-01-11T06:24:56","guid":{"rendered":"https:\/\/www.theguardian.com\/world\/2022\/jan\/11\/chinese-developer-shimao-plans-fire-sale-after-downgrade-and-missed-payment"},"modified":"2022-01-11T15:24:56","modified_gmt":"2022-01-11T06:24:56","slug":"chinese-developer-shimao-plans-fire-sale-after-downgrade-and-missed-payment","status":"publish","type":"post","link":"https:\/\/eastasianews.net\/wp\/?p=40538","title":{"rendered":"Chinese developer Shimao plans fire sale after downgrade and missed payment"},"content":{"rendered":"<p>Fears over contagion mount as a company once considered financially sound is running out of cash to pay its debts<\/p>\n<p>A Chinese developer previously considered financially sound is embarking on a fire sale of assets as the contagion of bad debts built up within China\u2019s bloated housing sector continues to spread.<\/p>\n<p>Shimao Group Holdings, which is in the top dozen Chinese property companies, was plunged into crisis after it said it defaulted a trust loan last week after missing a 645m yuan ($101m) payment that it guaranteed.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/world\/2022\/jan\/11\/chinese-developer-shimao-plans-fire-sale-after-downgrade-and-missed-payment\">Continue reading&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fears 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&#8230;<\/p>\n","protected":false},"author":443,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sns_share_botton_hide":"","vkExUnit_sns_title":"","_vk_print_noindex":"","sitemap_hide":"","_veu_custom_css":"","veu_display_promotion_alert":"","vkexunit_cta_each_option":"","footnotes":""},"categories":[6,50,556,2370],"tags":[],"class_list":["post-40538","post","type-post","status-publish","format-standard","hentry","category-business","category-china","category-chinese-economy","category-evergrande"],"veu_head_title_object":{"title":"","add_site_title":""},"_links":{"self":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/40538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/users\/443"}],"replies":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40538"}],"version-history":[{"count":1,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/40538\/revisions"}],"predecessor-version":[{"id":40539,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/40538\/revisions\/40539"}],"wp:attachment":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}