Ongoing woes: A woman walks past an Evergrande Group residential complex in Beijing. There’s little indication that distressed developers in China are finding it easier to repay debt as a slump in home sales continues. — AFP
HONG KONG: One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing.
As China’s property debt crisis enters its fifth year, there’s little indication that distressed developers are finding it easier to repay debt as a slump in home sales continues.
