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Yango Group Co Ltd has reached an agreement with investors to extend principal payments on onshore asset-backed securities they can redeem in November, two sources with direct knowledge of the matter told Reuters on Thursday.
Chinese developers' shares and bonds stumbled on Tuesday on worries over spreading financial contagion, as sources said one of the country's top 20 homebuilders is seeking a new extension for its onshore debts.
The China Iron and Steel Association (CISA) said on Saturday that industry players must ensure supply, while keeping prices stable in what is a “complex, volatile, unstable and uncertain market situation.” In the post on the association’s official WeChat page, Chairman He Wenbo said it is necessary to pay close attention to recovering global steel .
The top decision-making body of the Chinese parliament said on Saturday it will roll out a pilot real estate tax in some regions, the official Xinhua news agency reported.