Tag

Chinese Property Sector

All articles tagged with #chinese property sector

business-finance1 year ago•3 min saved

"Debt Woes Deepen: Country Garden and China's Property Crisis"

Chinese developer Country Garden is facing a $205 million loan non-payment liquidation petition, adding to concerns about the country's property sector debt crisis. With $194 billion in total liabilities and $14.9 billion in debts due within 12 months, the company's financial situation is under strain. Despite Beijing's efforts to revive the property market and economy, it has not directly bailed out any private developers. Country Garden's outlook remains uncertain as it grapples with its debt problems amidst the broader challenges facing the Chinese real estate industry.

via Reuters|

#beijing #business-finance #chinese-property-sector

finance2 years ago•4 min saved

"Asia Stock Markets Brace for US Inflation Data, Weaken"

Asia stock markets weakened as investors in China sold off shares in property developers, remaining skeptical of efforts to revive the mainland real estate market. Hong Kong's Hang Seng Index was down 1.4% as investors retreated from China's troubled property sector. China's authorities have rolled out measures to support the debt-riddled property sector, but stability is still needed for a meaningful economic rebound. E-commerce giant Alibaba Group dropped 3.1% on the surprise departure of its outgoing CEO from its cloud unit. In the United States, the Consumer Price Index for August is expected to rise, and investors are pricing in a 93% probability that the Fed will keep rates at current levels after its next meeting.

via Reuters|

#asia-stock-markets #chinese-property-sector #economic-rebound

business2 years ago•2 min saved

Country Garden's Onshore Bond Extensions Face Critical Test Amid China's Real Estate Slump

Chinese developer Country Garden is facing a crucial round of voting by creditors to extend the maturities of eight onshore bonds by three years, as the company grapples with liquidity pressure amid a slump in sales. The voting comes after Country Garden narrowly avoided defaulting on its debt twice this month. The developer, which has not yet defaulted on its debt obligations, faces 108.7 billion yuan ($14.9 billion) of debts due within a year, while its cash level stands at around 101.1 billion yuan. A default by Country Garden could worsen China's real estate crisis and strain its banking system, potentially impacting the overall economy.

via Reuters|

#bond-extensions #business #chinese-property-sector

business2 years ago•3 min saved

China's Property Giants Face Turmoil: Country Garden Sinks, Wanda's Bonds Fuel Concerns

Chinese property giant Country Garden, one of the country's largest developers, experienced a sharp fall in shares and bonds as it moved to refinance part of a 2019 loan facility. The company's troubles add to the pressure for Beijing to provide additional support to the struggling property sector, which has been on a downward trend accelerated by the COVID pandemic. The sector is facing $12.8 billion of dollar-denominated bond repayments before the end of the year, and analysts estimate that another $9 billion of defaults may occur. Country Garden, with over $40 billion of debt, is likely to require government assistance.

via Reuters.com|

#bond-payments #business #chinese-property-sector