Troubled Chinese developer told to demolish resort

1 day, 4 hours ago

Shimao Cuts Asking Price for Hong Kong’s Second-Largest Hotel

-- Defaulted Chinese developer Shimao Group Holdings Ltd. has slashed the asking price for a Sheraton-branded hotel property near Hong Kong’s airport by a quarter, according to a person familiar with the matter. Shimao, once one of China’s biggest developers, is looking to sell the 18-story property in Tung Chung for at least HK$4.5 billion, the person said, asking not …

Hong Kong According Kong Hong Sheraton Shimao

3 days, 6 hours ago

China Property Flare-Ups Resurface as Crisis Enters Fifth Year

Live Mint

One of China’s leading developers is now on authorities’ radar for default risk. 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. “Against this backdrop, we can’t rule out the possibility of some more defaults next year, albeit the overall …

China Market Hong Kong Debt Chinese Beijing Kong

1 week, 4 days ago

'White list' project loans total 3.6 trillion

China Daily

A building under construction in Shanghai. CHINA DAILY Approved loans for national "white-list" projects amounted to 3.6 trillion yuan by the end of November, said Dong Jianguo, vice-minister of housing and urban-rural development, on Saturday. This year, the Ministry of Housing and Urban-Rural Development, in collaboration with the National Financial Regulatory Administration, established a comprehensive coordination framework for real estate …

Real Estate Real Estate Development Estate Development Development Project White List Estate Development Project

3 weeks, 5 days ago

China’s property slump may extend into 2025, Fitch Ratings says

Hindustan Times

-- China’s multiyear property crisis is set to drag on in 2025 as prices and sales remain weak despite the government’s stimulus push to spur demand, according to Fitch Ratings. China’s property slump may extend into 2025, Fitch Ratings says China’s new home prices will fall by another 5% next year, as measured by China’s official statistics bureau, or roughly …

China Wang Fitch Fitch Ratings

1 month, 2 weeks ago

China’s coming stimulus is necessary but likely insufficient

Live Mint

Hopes for a massive fiscal stimulus have sent Chinese stocks on a roller-coaster ride in the past month or so. These local governments have racked up piles of debt over the years as they are responsible for the bulk of public spending from infrastructure to education, but lack reliable revenue sources to match. China’s housing market implosion has drastically reduced …

China Local Debt Stimulus Beijing Trillion Local Governments

1 month, 3 weeks ago

China Residential Property Sales Rebound as Stimulus Boosts Buyer Morale

Live Mint

China's residential property sales rose in October, marking the first on-year increase since 2024. The value of new-home sales increased by 7.1%, reversing a 37.7% slump in September. The improvement was driven by stimulus measures that eased borrowing costs and relaxed buying restrictions in major cities. However, analysts remain concerned about the sector's decline and the need for further policy …

Government Law Finance Real Estate Guangzhou

2 months, 1 week ago

China unveils new measures to stabilize housing market

China Daily

A property project under construction in Beijing. BEIJING -- Chinese officials announced new measures on Thursday to cement signs of stabilization in the property sector, after a bundle of pro-housing policies rolled out last month brought about "positive changes in the market." Under the "white list" mechanism launched in January, local authorities are recommending that financial institutions provide financial support …

China Housing Property Projects

2 months, 3 weeks ago

China unveils raft of measures to stabilize property market

China Daily

Xinhua | Updated: 2024-09-30 00:56 A clerk counts cash at a bank in Haian, East China's Jiangsu province, on June 24, 2020. BEIJING -- The People's Bank of China and the National Financial Regulatory Administration rolled out a wave of policies on Sunday to stabilize the real estate market. The pricing mechanism for interest rates of individuals' commercial housing mortgages …

China

4 months, 2 weeks ago

Country Garden sales drop 72% as China’s housing woes persist

Hindustan Times

-- Country Garden Holdings Co.’s sales slump dragged on last month, adding to the Chinese developer’s woes as it tries to avoid liquidation. Country Garden Holdings Co.’s sales slump dragged on last month, adding to the Chinese developer’s woes as it tries to avoid liquidation Contracted sales for July dropped 72% from a year earlier to 3.41 billion yuan, following …

China Sales

4 months, 3 weeks ago

Liquidators Struggle to Recover Cash From China’s Broke Builders

Live Mint

Liquidators trying to recoup at least a fraction of creditors’ investments in defaulted Chinese builders are running into dead-ends. Creditors in three cases, including Sinic Holdings Group Co. and Yango Justice International Ltd., haven’t seen any significant distribution, they said, declining to be identified discussing private matters. “Liquidators who are seemingly powerful could end up powerless.” Some offshore bonds of …

China Hong Kong Case According Chinese Kong Hong

5 months ago

China steps up investment in urban renewal projects

China Daily

BEIJING -- China has invested 2.6 trillion yuan in over 66,000 projects designed to renovate urban infrastructure, the Ministry of Housing and Urban-Rural Development said Friday. Urban renewal projects involve the maintenance, renovation, demolition, and improvement of public resources, with the purpose of readjusting urban space resources to make them better meet the expectations and needs of the people and …

China Urban Projects Urban Renewal Projects

5 months, 3 weeks ago

Expert sees 'tough' capital market reform

China Daily

The next wave of China's capital market reform could see "harsh punishments and tough laws" to rein in illegal activities as property giant Evergrande's recent meltdown due to debt troubles underscored the gravity of securities malpractices, said a leading financial expert and senior economist. Reforms need to be deepened urgently to preempt rule violations and further develop an investor-oriented capital …

China Market Reform Capital Evergrande

6 months ago

China’s rich spend millions on Shanghai property; Luxury apartments worth $3.8 million five times oversubscribed

Hindustan Times

-- A $15 million penthouse was snapped up hours after it went on sale. Photographer: Raul Ariano/Bloomberg Shanghai’s luxury real estate market is a bright spot in China’s bleak property sector. The recent buyers still see luxury residences as an optimal choice, given Shanghai’s financial hub status, the scarcity of supply of such dwellings and the discount that new offerings …

Luxury China Market Property Projects Shanghai Million

6 months ago

Regulators say financing should serve tech, green advancements

China Daily

A view of the Lujiazui area in Shanghai. Direct financing, such as stock issuance, as well as indirect financing such as bank loans, should be better connected to serve China's technology advancements and green development, said regulators and market mavens attending a panel discussion during the two-day 2024 Lujiazui Forum that started on Wednesday. Ever since China's new filing regulations …

Technology Market Tech Hong Kong Companies Capital Liu

6 months ago

A date with old quarries-turned-ecological park in Weihai

China Daily

A pair of photos showcasing what the open-air theater at the Huaxiacheng Scenic Area looked like before and after the massive transformation project in Weihai, East China's Shandong province. With the approval from the Weihai government, Xia started treating and greening the quarrying-torn area in 2003. Xia's decision was met with opposition from his family and colleagues who couldn't understand …

Xia Weihai

6 months, 1 week ago

Sadanand Kadam assures HC to demolish Sai Resorts by August 31

Hindustan Times

MUMBAI: Sadanand Kadam, an aide of Shiv Sena leader Anil Parab, on Friday assured the Bombay high court to demolish the entire structure of the disputed Sai Resorts in Dapoli by August 31, if he failed to secure a protection order from a coordinate bench of the court by July 31. Previously, Kadam had issued an unconditional apology to the …

Court Order Resort Permission Demolish Kadam Entire Second

7 months ago

China using ‘extreme pressure’ to relocate Tibetans: HRW Report

Hindustan Times

Chinese authorities have used “extreme forms of pressure” to relocate 500 villages in the Tibet Autonomous Region with more than 140,000 residents since 2016, amounting to a widespread violation of international law, Human Rights Watch said in a report on Tuesday. Chinese authorities have been accused by rights groups and the Central Tibetan Administration, or the government in exile based …

International Law China Tibetan Report Chinese Authorities Chinese Authorities

7 months ago

China using ‘extreme pressure’ to force rural Tibetans to relocate: HRW report

Hindustan Times

NEW DELHI: Chinese authorities have used “extreme forms of pressure” to relocate 500 villages in the Tibet Autonomous Region with more than 140,000 residents since 2016, amounting to a widespread violation of international law, the Human Rights Watch said in a report on Tuesday. The 70-page report, titled “Educate the Masses to Change Their Minds: China’s Coercive Relocation of rural …

International Law China Rural Tibetan Report Chinese Tibet

7 months ago

Star Entertainment surges on Hard Rock takeover interest as ASX enjoys solid gains — as it happened

ABC

Just a little more on the Chinese government's rescue plan to support its decidedly wobbly property market, a move that has put the jets under the big Australian miners today. There's 300 billion yuan for state-owned enterprises to buy unsold homes, 100 billion yuan in re-lending for rental housing, 500 billion yuan in supplementary lending to redevelop older buildings in …

China Chinese Billion

7 months, 1 week ago

China unveils 'historic' steps to stabilise crisis-hit real estate sector

Hindustan Times

China on Friday announced "historic" steps to stabilise the crisis-hit property sector, allowing local governments to buy "some" apartments, relaxing mortgage rules and pledging to deliver unfinished homes. China Real Estate Newspaper, a publication managed by the housing ministry, said the "heavyweight policies" marked "a significant historic moment" for the property sector. After waves of support measures over the past …

China Housing Property Chinese Local Governments Governments Trillion Yuan

7 months, 1 week ago

China rolls out new measures to fix its property crisis, spur growth

Associated Press

China announced a slate of fresh measures Friday to reinvigorate its ailing property industry after the latest data showed housing prices have slumped nearly 10% since the start of the year. He Lifeng, a vice premier, said officials would roll out policies to suit each city and “fight the tough battle of dealing with the risk of unfinished commercial housing.” …

China Housing Market Property Interest Rates Interest Rate

7 months, 1 week ago

Chinese vice premier urges efforts to ensure delivery of housing projects

China Daily

Workers are seen busy at a construction site in Huai'an, Jiangsu province, in December. BEIJING -- Vice Premier He Lifeng on Friday urged efforts to push forward the construction of government-subsidized housing, dual-use public infrastructure that can accommodate emergency needs, and the redevelopment of urban villages. Efforts should be made to address risks concerning unfinished commercial housing projects, ensure the …

Housing Projects Housing Projects Premier Urges

7 months, 2 weeks ago

Nicaragua cancels a controversial Chinese interoceanic canal concession after nearly a decade

Associated Press

MANAGUA, Nicaragua — After nearly a decade, Nicaragua’s congress finally canceled on Wednesday a controversial canal concession granted to a Chinese businessman that critics said endangered the environment and threatened to displace rural communities. The proposed $50 billion, 172-mile canal across this Central American nation was long viewed as a joke that later turned deadly serious. Ortega’s government claimed the …

Chinese Nicaragua Nicaraguan Interoceanic Canal

8 months, 1 week ago

270 million people are living on sinking land in China’s major cities, new study finds

CNN

CNN — Land is sinking underneath millions of peoples’ feet in China’s major cities due to human activities, putting the country’s coastal areas more at risk of flooding and rising sea levels, new research shows. “Such massive coastal dike systems will largely reduce the risk of being inundated even given both land subsidence and sea level rise,” Tao told CNN. …

China Cities Land Coastal Cnn Shanghai Study

8 months, 1 week ago

China’s private builders face $553 billion gap to complete homes

Hindustan Times

-- Chinese private developers face a $553 billion funding gap to complete pre-sold homes, adding to the woes of an industry that has yet to bottom out, according to a research report by Goldman Sachs Group Inc. Chinese private developers face a $553 billion funding gap to complete pre-sold homes Credit support from banks — which totaled 469 billion yuan …

China Housing Chinese Trillion Yuan

9 months ago

Evergrande: China property developer and founder accused of £60bn fraud

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Troubled property developer ChinaEvergrande Group …

China Billion Its Revenue Evergrande Chinese Markets Founder Accused

9 months ago

China's real estate market faces regulatory scrutiny

China Daily

A salesman introduces a residential project to potential homebuyers in Taiyuan, Shanxi province. WEI LIANG/CHINA NEWS SERVICE China's real estate market will require close monitoring by policymakers, and if there is no marked improvement, stronger efforts to mitigate the credit risks of developers and facilitation of potential debt restructuring will be required, experts said. Holding Xu Jiayin, founder and former …

Real Estate China Housing Property Zhang Estate Real

9 months, 1 week ago

New real-estate development mode key to solving housing market woes

China Daily

A salesman introduces a residential project to potential homebuyers in Taiyuan, Shanxi province. The policies recently announced by the top authorities indicate that the country will strive to seek breakthroughs by stabilizing the market, preventing risks and promoting transformation, while actively building a new mode of real estate development. Although the task of stabilizing the real estate market is still …

China Real Real Estate Development Housing Development Estate Market Solving Housing

9 months, 1 week ago

每日一词|城中村改造 urban village renovation

China Daily

截至3月7日，国家开发银行已发放城中村改造专项借款614亿元。已发放的专项借款涉及北京、上海、广州、武汉等33个城市的271个项目。 As of March 7, China Development Bank had issued 61.4 billion yuan of special loans for urban village renovation to 271 projects in 33 cities including Beijing, Shanghai, Guangzhou and Wuhan. 2023年4月2日，在广东省深圳市龙华区大浪街道元芬村拍摄的改造后的青年公寓外立面（左）。图片来源：新华社【知识点】 2023年7月21日，《关于在超大特大城市积极稳步推进城中村改造的指导意见》（以下简称《指导意见》）在国务院常务会议上审议通过。《指导意见》提及，设立城中村改造专项借款。城中村作为存量房源地，是很多超大特大城市外来建设者等新市民、青年人奋斗的第一个落脚点。城中村布局凌乱、房屋破旧密集、公共服务缺失、环境卫生条件相对较差，与光鲜亮丽的城市核心区域形成较大反差。积极稳步推进城中村改造有利于消除城市建设治理短板、改善城乡居民居住环境条件、扩大内需、优化房地产结构。推进城中村改造将进一步激发上下游相关产业发展活力，带动有效投资和消费。同时，还将有助于补齐超大特大城市发展的短板，在改善城市环境的同时完善公共服务，提升城市文明程度，推动城市高质量发展。【重要讲话】人民幸福安康是推动高质量发展的最终目的。基层治理和民生保障事关人民群众切身利益，是促进共同富裕、打造高品质生活的基础性工程。 The happiness and well-being of the people are the ultimate goals of promoting high-quality development. Primary-level governance and ensuring people's well-being …

9 months, 1 week ago

每日一词|城中村改造 urban village renovation

China Daily

截至3月7日，国家开发银行已发放城中村改造专项借款614亿元。已发放的专项借款涉及北京、上海、广州、武汉等33个城市的271个项目。 As of March 7, China Development Bank had issued 61.4 billion yuan of special loans for urban village renovation to 271 projects in 33 cities including Beijing, Shanghai, Guangzhou and Wuhan. 2023年4月2日，在广东省深圳市龙华区大浪街道元芬村拍摄的改造后的青年公寓外立面（左）。图片来源：新华社【知识点】 2023年7月21日，《关于在超大特大城市积极稳步推进城中村改造的指导意见》（以下简称《指导意见》）在国务院常务会议上审议通过。《指导意见》提及，设立城中村改造专项借款。城中村作为存量房源地，是很多超大特大城市外来建设者等新市民、青年人奋斗的第一个落脚点。城中村布局凌乱、房屋破旧密集、公共服务缺失、环境卫生条件相对较差，与光鲜亮丽的城市核心区域形成较大反差。积极稳步推进城中村改造有利于消除城市建设治理短板、改善城乡居民居住环境条件、扩大内需、优化房地产结构。推进城中村改造将进一步激发上下游相关产业发展活力，带动有效投资和消费。同时，还将有助于补齐超大特大城市发展的短板，在改善城市环境的同时完善公共服务，提升城市文明程度，推动城市高质量发展。【重要讲话】人民幸福安康是推动高质量发展的最终目的。基层治理和民生保障事关人民群众切身利益，是促进共同富裕、打造高品质生活的基础性工程。 The happiness and well-being of the people are the ultimate goals of promoting high-quality development. Primary-level governance and ensuring people's well-being …

9 months, 1 week ago

Chinese property developer sees surge in stock prices

China Daily

The booth of China Vanke during an expo in Wuhan, Hubei province. Share prices of Chinese property developer China Vanke Co surged by 5.71 percent and 10.33 percent respectively on the Shenzhen and Hong Kong stock bourses at closing on Tuesday, which experts said indicated positive market sentiment over the developer's liquidity prospects. They also said China is expected to …

Real Estate China Property Developer Developer Sees Property Developer Sees

9 months, 1 week ago

每日一词|城中村改造 urban village renovation

China Daily

截至3月7日，国家开发银行已发放城中村改造专项借款614亿元。已发放的专项借款涉及北京、上海、广州、武汉等33个城市的271个项目。 As of March 7, China Development Bank had issued 61.4 billion yuan of special loans for urban village renovation to 271 projects in 33 cities including Beijing, Shanghai, Guangzhou and Wuhan. 2023年4月2日，在广东省深圳市龙华区大浪街道元芬村拍摄的改造后的青年公寓外立面（左）。图片来源：新华社【知识点】 2023年7月21日，《关于在超大特大城市积极稳步推进城中村改造的指导意见》（以下简称《指导意见》）在国务院常务会议上审议通过。《指导意见》提及，设立城中村改造专项借款。城中村作为存量房源地，是很多超大特大城市外来建设者等新市民、青年人奋斗的第一个落脚点。城中村布局凌乱、房屋破旧密集、公共服务缺失、环境卫生条件相对较差，与光鲜亮丽的城市核心区域形成较大反差。积极稳步推进城中村改造有利于消除城市建设治理短板、改善城乡居民居住环境条件、扩大内需、优化房地产结构。推进城中村改造将进一步激发上下游相关产业发展活力，带动有效投资和消费。同时，还将有助于补齐超大特大城市发展的短板，在改善城市环境的同时完善公共服务，提升城市文明程度，推动城市高质量发展。【重要讲话】人民幸福安康是推动高质量发展的最终目的。基层治理和民生保障事关人民群众切身利益，是促进共同富裕、打造高品质生活的基础性工程。 The happiness and well-being of the people are the ultimate goals of promoting high-quality development. Primary-level governance and ensuring people's well-being …

9 months, 1 week ago

每日一词|城中村改造 urban village renovation

China Daily

截至3月7日，国家开发银行已发放城中村改造专项借款614亿元。已发放的专项借款涉及北京、上海、广州、武汉等33个城市的271个项目。 As of March 7, China Development Bank had issued 61.4 billion yuan of special loans for urban village renovation to 271 projects in 33 cities including Beijing, Shanghai, Guangzhou and Wuhan. 2023年4月2日，在广东省深圳市龙华区大浪街道元芬村拍摄的改造后的青年公寓外立面（左）。图片来源：新华社【知识点】 2023年7月21日，《关于在超大特大城市积极稳步推进城中村改造的指导意见》（以下简称《指导意见》）在国务院常务会议上审议通过。《指导意见》提及，设立城中村改造专项借款。城中村作为存量房源地，是很多超大特大城市外来建设者等新市民、青年人奋斗的第一个落脚点。城中村布局凌乱、房屋破旧密集、公共服务缺失、环境卫生条件相对较差，与光鲜亮丽的城市核心区域形成较大反差。积极稳步推进城中村改造有利于消除城市建设治理短板、改善城乡居民居住环境条件、扩大内需、优化房地产结构。推进城中村改造将进一步激发上下游相关产业发展活力，带动有效投资和消费。同时，还将有助于补齐超大特大城市发展的短板，在改善城市环境的同时完善公共服务，提升城市文明程度，推动城市高质量发展。【重要讲话】人民幸福安康是推动高质量发展的最终目的。基层治理和民生保障事关人民群众切身利益，是促进共同富裕、打造高品质生活的基础性工程。 The happiness and well-being of the people are the ultimate goals of promoting high-quality development. Primary-level governance and ensuring people's well-being …

9 months, 1 week ago

More policies set to back property sector

China Daily

A salesman introduces a residential project to potential homebuyers in Taiyuan, Shanxi province. WEI LIANG/CHINA NEWS SERVICE China is expected to roll out more policies to support the financing of real estate developers while improving the effects of policy implementation, amid increased efforts to improve their liquidity, thereby boosting the healthy development of the real estate industry, experts said on …

China Market Property Wang Estate Real Financing

9 months, 1 week ago

China let property giants Evergrande, Country Garden go bust, but won't do so for Vanke | Here's why

Firstpost

China Vanke’s government backing, relatively decent credit rating, and its role in preserving market confidence are likely factors pushing authorities to support the real estate major. Notably, such generosity was not offered to China Evergrande and Country Garden The Chinese government is making a rare intervention to help the beleaguered property giant, China Vanke. Such support was nowhere in sight …

China Property Country Chinese Country Garden Vanke China Vanke

9 months, 3 weeks ago

Everything China’s doing to rescue its battered stock market

Live Mint

Chinese stocks have struggled for traction since returning from the Lunar New Year break, adding pressure on Beijing to provide more support and restore confidence in an economy grappling with a property slump and stubborn deflation. Regulators Check in With Listed Firms China’s regulatory officials visited listed companies in 20 provinces and municipalities from Jan. 29-Feb. 4, according to a …

Support China Housing Market Hong Kong Stock Securities

10 months ago

China cuts key interest rate in the latest move to boost its ailing property sector

Associated Press

BANGKOK — China’s central bank announced Tuesday that it cut its 5-year loan prime rate while leaving its 1-year rate unchanged in the latest move to ease pressures on the ailing property market. But coupled with efforts to provide increased credit support to developers, today’s cut should help to reduce pressure on the property sector somewhat,” Julian Evans-Pritchard of Capital …

China Market Rate Key Interest Cuts Key Interest Cuts Key

10 months, 2 weeks ago

China names a new stock regulator and reports new developer financing in a bid to soothe markets

Associated Press

BANGKOK — Chinese shares rose Thursday as investors appeared to welcome Beijing’s choice of an industry veteran to head its securities watchdog, in its latest effort to boost confidence in ailing markets. Investors registered their enthusiasm in online comments, with some saying they expected Wu, whose full name is a homophone for characters meaning “ruthless” in Chinese, to live up …

China Markets Market Communist Party Share Chinese

10 months, 3 weeks ago

China pledges more help for its ailing property market, as IMF forecasts economy will slow

Associated Press

BANGKOK — Markets in China sank Friday despite a fresh flurry of measures to help prop up the ailing property sector, as the International Monetary Fund forecast that the Chinese economy will continue to slow in coming years. “Financial support for the development of the housing rental market should highlight key points and target shortcomings, mainly in large cities, focusing …

China Property Market Imf Rental Housing

10 months, 3 weeks ago

Order to liquidate property giant China Evergrande is just one step in fixing China’s debt crisis

Associated Press

BANGKOK — A Hong Kong court’s order to liquidate China Evergrande, the world’s most heavily indebted real estate developer, is only a tentative step toward resolving a debt crisis that is haunting financial markets and dragging on the Chinese economy. The order by the Hong Kong High Court also is not a remedy for the crisis of confidence haunting China’s …

China Financial Hong Kong Financial Markets Debt Order Crisis

10 months, 3 weeks ago

Court orders liquidation of Chinese property giant Evergrande in landmark moment for industry

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A Hong Kong court has …

China Property Court Hong Kong Order Company Chinese

10 months, 3 weeks ago

China Evergrande is ordered to liquidate, with over $300 billion in debt. Here’s what that means

Associated Press

A court in Hong Kong on Monday ordered China Evergrande to be liquidated in a decision that marks a milestone in China’s efforts to resolve a crisis in its property industry that has rattled financial markets and dragged on the entire economy. Evergrande, founded in the mid-1990s by Hui Ka Yan, it is the world’s most deeply indebted developer with …

China Court Hong Kong Debt Chinese Evergrande China Evergrande

10 months, 3 weeks ago

China’s Big Tech firms like TenCent, Alibaba are buying up lots of properties following real estate crash

Firstpost

In a strategic move reflecting the resilience and growth ambitions of Chinese tech behemoths, Tencent Holdings and Alibaba Group Holding, among other major players, have emerged as significant buyers of land in mainland China. Tencent, a social media and gaming giant, recently invested a staggering 6.42 billion yuan or about $905 million to acquire over 70,601 square meters of land …

China Tech Land Shanghai Beijing Tech Firms Tencent

10 months, 3 weeks ago

Evergrande faces imminent liquidation after talks with top creditors break down

Live Mint

Chinese property developer Evergrande faces imminent liquidation after its overseas creditors failed to reach an 11th-hour deal this weekend to restructure the sprawling real-estate company, according to people familiar with the matter. Without a deal, a group of Evergrande’s creditors’ plan to support an existing petition to liquidate the company at a winding-up hearing on Monday in Hong Kong, the …

China Hong Kong Company Chinese Its Debt Evergrande Creditors Plan

10 months, 3 weeks ago

Chinese property developer firm Evergrande faces liquidation after Hong Kong court order

Op India

On 29th January, the Hong Kong court issued an order to liquidate Evergrande, a property developer from China. Notably, Evergrande was once China’s most prominent property developer and had played a significant role in the country’s economy. The court order came after a financer filed a winding-up petition in 2022 and sought liquidation of the company after Evergrande defaulted on …

China Property Court Hong Kong Order Company Chinese

10 months, 3 weeks ago

Evergrande heads for liquidation: Rise and demise of China’s property giant

Firstpost

Here comes another blow for the world’s most indebted property developer — Evergrande Group. A person pushes a cart near media members standing outside the High Court where a court hearing on property developer China Evergrande Group is held, in Hong Kong. Most of Evergrande’s assets are in mainland China and despite the “one country, two systems” slogan, there are …

China Property Court Hong Kong Company Chinese Hong

10 months, 3 weeks ago

China's top-selling to world's most indebted developer: What is Evergrande crisis

Hindustan Times

A Hong Kong court ordered the liquidation of China Evergrande Group on Monday. Once China's top-selling developer, Evergrande's financial crisis became public in 2021 and since then it and a string of its peers have defaulted on their offshore debt obligations amid slowing home sales and fewer new avenues for fundraising, triggering fears of wider contagion that could spread to …

China Hong Kong Debt Billion Group Kong Hong

10 months, 3 weeks ago

Court orders China Evergrande property developer to liquidate after it failed to reach debt deal

Hindustan Times

HONG KONG — A Hong Kong court on Monday ordered property developer China Evergrande Group to liquidate after it was unable to reach a restructuring deal with creditors. Chinese property developer China Evergrande Group on Monday, Jan. 29, 2024 was ordered to liquidate by a Hong Kong court, after the firm was unable to reach a restructuring deal with creditors. …

China Property Hong Kong Order Chinese Developer Evergrande

10 months, 3 weeks ago

China Evergrande has been ordered to liquidate. The real estate giant owes over $300 billion

Associated Press

HONG KONG — A Hong Kong court ordered China Evergrande, the world’s most heavily indebted real estate developer, to undergo liquidation following a failed effort to restructure $300 billion owed to banks and bondholders that fueled fears about China’s rising debt burden. She said it was appropriate for the court to order Evergrande to wind up its business given a …

Real Estate China Court Hong Kong Company Chinese Kong

10 months, 3 weeks ago

Why China Property Giant Evergrande Faces Liquidation

Bloomberg

Property giant China Evergrande Group is heading for liquidation after a Hong Kong court ordered it to be wound up. Evergrande defaulted on its bonds in December 2021, triggering protracted negotiations with creditors to hammer out a restructuring plan. Further funding problems sent the company’s stock and bonds tumbling and, after late payments on some dollar bonds, it missed a …

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