Chinese developer Shimao Group
said on Monday that China Construction Bank had
filed a liquidation petition against it in Hong Kong over unpaid
debts, a rare case of a state-owned bank taking such.
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(Bloomberg) Cash-strapped Chinese developer China Vanke Co. has been fighting to avoid its first-ever default, and while investors’ fears of an imminent meltdown appear to be easing, its long-term prospects are less clear.Most Read from BloombergPutin Says Ukraine Deal Requires Security Pledges for RussiaUS House Passes Bill That Would Force TikTok Sale or Ban ItEx-Wall Street Banker Takes On AOC in New York Democratic PrimaryPhysical Intelligence Is Building a Brain for RobotsUnited Tells Bo