Chinese property sector’s debt crisis to intensify in 2022

5131.jpg?width=1200&height=630&quality=8

Developers owe $19.8bn in dollar-denominated offshore debt in the first three months of the year as issues that blighted Evergrande spread

The crisis engulfing the Chinese property sector appears certain to intensify in 2022 as companies face debt repayments in the new year that are double those of the final months of 2021, risking what one China expert calls a systemic crisis for the world’s second-biggest economy.

Although concerns about the stricken giant China Evergrande have receded in recent weeks behind a massive state-led restructuring operation, it missed a bond repayment of $255m (£190m) on Thursday and the debt problems that have pushed the second biggest developer in the country into default are blighting many other firms.

Continue reading…

Source: https://www.theguardian.com/business/2021/dec/31/evergrande-chinese-property-sectors-debt-crisis-to-intensify-in-2022
Droolin’ Dog sniffed out this story and shared it with you.
The Article Was Written/Published By: Martin Farrer

Author: Droolin' Dog News Team