Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, told reporters in a briefing Tuesday that he was concerned about what he called a “bubble” in Chinese real-estate prices, which he said could threaten the country’s financial sector and its broader economy, reported the Wall Street Journal. “Many people buy homes not to […]
Category: Property
A Chinese property developer backed by the country’s largest insurance group has defaulted on a $530 million bond in the latest test for the country’s debt-laden real estate sector and the international investors backing it, reported the Financial Times. The failure of China Fortune Land Development to repay the bond, investors in which include BlackRock […]
China’s house-price growth accelerated in January as low inventory stoked a fear of missing out among buyers even as authorities widened curbs, reported Bloomberg. New home prices in 70 major cities, excluding state-subsidized housing, rose 0.28% last month from December after climbing 0.12% in each of the previous two months, National Bureau of Statistics figures […]
China Fortune Land Developmentand its subsidiaries have defaulted on billions of RMB in debt as the property developer has struggled to scrape together cash amid a tightening regulatory environment, reported Caixin. The Shanghai-listed company said it has failed to pay RMB 5.3 billion ($813.5 million) in principal and interest on debts that include bank and […]
China’s home prices are expected to rise at a slower pace this year while sales will likely remain steady, as Beijing shifts its focus to tackling rising debt risks in the sector as the economy recovers, a Reuters poll has shown. Average residential property price growth is estimated to cool to 3.3% in 2021, according […]