China’s real estate industry and the shadow banking network that it relies on received a collective black eye this week when a Hangzhou developer first defaulted on loan payments, and was later arrested on fraud allegations surrounding RMB 2 billion… Read More>>
China Top 100 Developer Denies Reports of Collapse
A Shenzhen-based real estate developer announced on Wednesday that it was not about to collapse, despite being beseiged by unhappy customers after failing to deliver homes which buyers had already paid for.
Shenzhen Guang Group Real Estate, which is said… Read More>>
Nanjing Developer Defaults as China Real Estate Credit Crunch Continues
China’s real estate industry witnessed its second significant default in less than a month last week when a Nanjing property developer failed to repay a RMB 105.4 million (US$16.9 million) inter-company debt from a Shenzhen-listed shipbuilder.
The default on a… Read More>>
Troubled Chinese Developer Says Sales Down Nearly 70% in 2014
Hong Kong-listed Hopson Development Holdings Limited (HKG:0754) announced on Monday that its contracted sales for the two months ended 28 February 2014 amounted to about RMB 471 million – a decrease of 69.6 percent compared to the same period a… Read More>>
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