HONG KONG—A Chinese court has ordered the freezing of 640.4 million yuan ($101 million) in assets held by a subsidiary of China Evergrande Group, according to a filing by contractor Shanghai Construction Group. State-owned Shanghai Construction, which sued the Evergrande unit in the southwestern city of Chengdu in December for overdue construction fees, cited the…
China Courts Freeze $157 Million of Evergrande Assets Over Missed Construction Payments
Beijing Pushes Policy Support for Real Estate Sector
Commentary As China’s real estate sector woes deepen hitting developers and local budgets, policy support is coming to their aid from Beijing. The Chinese Communist Party (CCP) has mobilized its so-called “national asset managers” to support its tottering real estate developers and avert a full-on property market collapse. The asset management companies, which include China…
Chinese Property Developers Funding Plummets Amid Deepening Liquidity Crunch
China’s developers continue to face a liquidity crunch, with fundraising across all channels down 70 percent year over year in January, reported state-run media China News network. Capital raised by the property industry through selling domestic and international bonds, trust loans, and asset-backed securities totaled 79 billion yuan ($12.4 billion) in January, as uneasy sentiment extended into…
China Evergrande’s Debt Crisis Piles Pressure on Suppliers Who Issue Spate of Profit Warnings
The debt crisis of Evergrande Group and other property developers in China has jeopardized their supply partners, as a growing number of Chinese construction and interior design companies write off assets or report profit warnings. Beijing Jiayu Door, Window, and Curtain Wall Co. projected a loss of as much as 1.4 billion yuan (about $220…
US Investment Firm Issues Challenge to China’s Legal System
Commentary We’re about to find out just how “free” China’s financial markets really are. As the restructuring saga around real estate developer China Evergrande continues to drag out, recent developments could escalate into a financial standoff previously never before seen in China’s capital markets. A U.S. distressed credit fund—which owns a piece of Evergrande’s defaulted…
Chinese Property Developers Encounter Intensifying Clashes Over Domestic Construction and Wage Arrears
Embattled developer Evergrande’s failure to meet its debt payments has set off a chain reaction in the property sector in China. Multiple Chinese property developers in different parts of China are experiencing defaults in construction and wage payments as well as overseas and domestic bonds and debts. In China, it is common practice in the…
Evergrande Shares Fall After Restructuring Roadmap Fails Creditors
Shares of China Evergrande Group tumbled on Jan. 27, a day after the debt-saddled developer announced a six-month preliminary restructuring proposal in a bid to quell its uneasy bondholders. Evergrande, wrestling with liabilities of over $300 billion at home and aboard, “will continue to listen carefully to the opinions and suggestions of the creditors,” Chairman…
Evergrande Offshore Creditors Warn of Legal Action Over Default and Weak Engagement
International creditors of the world’s most-indebted property developer threatened on Jan. 20 they would roll out “all necessary actions” to defend their rights if the company fails to resolve its default in good faith. China Evergrande Group has been struggling with over $300 billion in total liabilities, including nearly $20 billion of international bonds all…
China Q4 GDP Records Slowest Growth in 18 Months: Official Data
January 17, 2022
admin
Business & EconomyChinaChina Business & Economyeconomic policieseconomyevergrandegross domestic productnational bureau of statistics
0 Comment
China’s economy saw the weakest expansion in a year-and-a-half during the last quarter, official data show. Gross domestic product (GDP) grew 4 percent in the final quarter of 2021 from a year earlier, China’s National Bureau of Statistics announced on Jan. 17, down from the 4.9 percent gain in the third quarter—a further deceleration from…
Price Drop Slows in December for New Homes in China
China’s new home prices tumbled at a slower pace at the end of 2021, after hitting a six-year low in November, official data show. According to the latest new home price indices released by the National Bureau of Statistics (NBS) on Jan. 15, new home prices in 70 tracked Chinese cities slipped 0.2 percent month-on-month…
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta