BEIJING: China’s efforts to spur asset sales by cash-strapped developers are starting to gain momentum with a flurry of deals involving state-run rivals, potentially easing the industry’s debt crisis.
Shares and bonds in property companies gained, with China Evergrande Group’s stock jumping the most in 10 weeks after signs of progress in what will likely be one of the country’s largest restructurings.
HONG KONG: China’s debt-saddled property developers have seen their offshore bonds lose US$82bil (RM343bil) in value, and more losses and defaults are likely, analysts at Bloomberg Intelligence say.