Dollar debt: A man walks past skyscrapers in the central business district in Beijing. While policymakers have rolled out a slew of measures aimed at propping up the housing market, sales remain sluggish. — Reuters
BEIJING: Most of China’s biggest defaulted developers are reaching a restructuring milestone, as creditors increasingly accept that better terms are unlikely during a real estate crisis that has triggered US$130bil of defaults.
Eight of China’s 10 most indebted developers have largely if not entirely put the offshore restructuring process behind them.
