Morgan Stanley has lifted its view on China’s real estate industry to “attractive” from “in line,” saying regulators may relax their grip on the sector to help stabilize it and support the economy, reports Reuters. The company’s analysts said that systemic risks have become more manageable as regulators and local governments have the experience and […]
Category: Property
Around half of China’s 30 largest property developers were in breach of at least one of Beijing’s recently introduced rules on leverage in the sector, reports the Financial Times. In August last year, the Chinese government unveiled the “three red lines,” which aim to constrain property developers’ debt according to three balance sheet metrics: the […]
The big October holiday is over, but the Evergrande situation remains as fraught as ever. What is becoming clear is that the Center’s decision is to carve up the problem and have it (hopefully) dissipate at the local level, with local governments being largely responsible for solving Evergrande-related issues on their turf. No doubt the […]
One of heavily-indebted China Evergrande’s largest shareholders, Chinese Estates Holdings, has seen its value soar after a privatization offer from the family of Hong Kong tycoon Joseph Lau Luen-hung, reports the South China Morning Post. The stock’s market value increased by $226 million. The shares jumped 32% to $0.49 at the close of trading on […]
Some of heavily-indebted China Evergrande Group’s offshore bondholders had not received interest payment by the close of Asia business hours on Wednesday, three people familiar with the matter told Reuters. This marks the second missed dollar debt payment by the company this month. The cash-strapped property developer was due to make a $47.5 million bond […]