• About Us
  • Privacy Policy
  • DMCA
  • Editorial Policy
  • Contact Form
Saturday, June 14, 2025
  • Login
No Result
View All Result
NEWSLETTER
BOB fm
  • Home
  • Top News
  • World
  • Economy
  • science
  • Technology
  • sport
  • entertainment
  • Contact Form
  • Home
  • Top News
  • World
  • Economy
  • science
  • Technology
  • sport
  • entertainment
  • Contact Form
No Result
View All Result
BOB fm
No Result
View All Result
Home Economy

China’s real estate sector “falls into a domino”. Beijing accuses companies of ‘mismanagement’ – executive magazine

Ursula Curtis by Ursula Curtis
October 18, 2021
in Economy
0
China’s real estate sector “falls into a domino”.  Beijing accuses companies of ‘mismanagement’ – executive magazine
0
SHARES
141
VIEWS
Share on FacebookShare on Twitter

The default of the Evergrande Group appears to have been the first piece of debt-laden Chinese real estate domino.

Last week, Sinic Holdings warned lenders and investors that it was very likely that the offshore bonds, due on Monday, would not be paid in the $250 million range. So far, the regional press has not reported that this amount has been paid.

Another Chinese real estate giant, China Properties Group, announced on Friday the first phase of default of $226 million, which expired on October 15.

Added to this list is Fantasia Holdings, which since the beginning of October has had 206 million dollars.

The news comes the same week that Evergrande will formally default directly on its debt if it fails to pay interest on offshore dollar-denominated bonds that matured in September.

The company has been silent about coupon payments for four other issues of bonds that have matured in recent weeks.

In the past week, several rating agencies have had to lower the ratings of several Chinese real estate companies.

The People’s Bank of China has already warned that real estate companies that have issued debt abroad, in an offshore system, “must meet their obligations,” ruling out any state support.

On Sunday, Governor Yi Gang stressed that authorities would prevent Evergrande’s problems from spreading to other real estate companies.

“The Chinese economy is doing well, despite the mismanagement of some companies,” the governor was quoted as saying by Reuters.

The real estate sector accounts for about a quarter of China’s gross domestic product, according to Moody’s data.

Ursula Curtis

“Writer. Analyst. Avid travel maven. Devoted twitter guru. Unapologetic pop culture expert. General zombie enthusiast.”

Ursula Curtis

Ursula Curtis

"Writer. Analyst. Avid travel maven. Devoted twitter guru. Unapologetic pop culture expert. General zombie enthusiast."

Next Post

Portugal is the eighth country to send more students to the UK in 2020 - human resources

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Navigate

  • Home
  • Top News
  • World
  • Economy
  • science
  • Technology
  • sport
  • entertainment
  • Contact Form

Pages

  • About Us
  • Privacy Policy
  • DMCA
  • Editorial Policy
  • Contact Form
  • About Us
  • Privacy Policy
  • DMCA
  • Editorial Policy
  • Contact Form

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • About Us
  • Contact Form
  • DMCA
  • Editorial Policy
  • Privacy Policy

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.