The Shanghai Stock Exchange briefly suspended trading of one of Chinese property developer Shimao’s bonds on Monday, following Friday’s suspension of trading in the firm’s five other bonds due to severe declines. The trading halt came as Shimao’s unit in Shanghai defaulted on a loan after missing a payment of over $100 million last week,…

BEIJING—A troubled Chinese real estate developer that is struggling with $310 billion in debt announced Tuesday it has been ordered to demolish a 39-building resort complex in a new blow to its finances. Evergrande Group gave no explanation, but news reports said the government of Danzhou, a city on the southern island province of Hainan,…

New Analysis After two major Chinese property developers—Evergrande and Kaisa—defaulted on their bond payments, the Chinese Communist Party (CCP) reiterated its bid to rein in its debt-ridden property market. However, experts believe that the CCP intends to turn private enterprises into state-owned entities that bolster state control. The real estate sector was one of the…