The cash-strapped company was downgraded by ratings agency S&P Global Rating from “stable” to “negative” recently due to weak liquidity. ( read original story …)
PROPERTY
China shares drop on property sector woes, Xi speech aids tech stocks
Property sector leads losses on Evergrande’s slimmed share-sale * Tencent hits record high on Xi’s speech. BEIJING, Oct 14 (Reuters) – … ( read original story …)
China Evergrande raises $555 million in slimmed-down share sale
China Evergrande Group, the country’s most indebted property developer, on Wednesday said it has raised $555 million in a slimmed-down share sale after initially targeting up to double that amount. ( read original story …)
Behind China’s Latest Property Boom: Doormen and Gardeners
Investors have seized on another way to profit from China’s huge housing market: snapping up stocks in the companies that take care of apartment complexes and help residents with child care, groceries … ( read…
China’s Too-Big-to-Fail Property Giant Pulls Back From Brink
China Evergrande Group’s stock and bonds rallied after the developer took a major step toward avoiding a cash crunch that had threatened to roil the nation’s $50 trillion financial system and … ( read original…
China’s Too-Big-to-Fail Real Estate Giant Pulls Back From Brink
China Evergrande Group took a major step toward avoiding a cash crunch that had threatened to roil the nation’s $50 trillion financial system and reverberate across global markets. ( read original story …)
China real estate takes back seat as hopes pinned on consumption to drive recovery
China is tapping the brakes on property prices and cutting the availability of mortgage loans to spur households to spend instead of repaying debt, as policymakers try to ignite private consumption … ( read original…
Property Developer China Evergrande Erases Market Losses
The company had sought to assuage investor concerns about its liquidity following a steep selloff, and some investors took advantage of its distressed U.S.-dollar-bond prices to scoop up the … ( read original story …)
No One’s Too Big to Fail in China’s Property Market
Beijing has set strict guidelines to protect the real-estate sector. Luckily many developers are in the clear. ( read original story …)
China Shares Predicted To Open In The Green
The China stock market has finished lower in back-to-back trading days, surrendering more than 60 points or 2 percent along the way. ( read original story …)
China property developer follows Huawei with job cuts in Australia amid souring Beijing-Canberra ties
Chinese state developer Poly Developments and Holdings will cut jobs at its Australian real estate arm as it moves to slow capital investments in Australia amid a coronavirus pandemic-led downturn and … ( read original…
Blackstone’s China Real Estate Head Tim Wang Leaves After 10 Years
Tim Wang, a senior managing director at Blackstone Group Inc., is leaving after 10 years at one of the world’s biggest alternative asset managers, people familiar with the matter said. ( read original story …)
Chinese Property Tycoon Who Called Xi Jinping A ‘Clown’ Imprisoned For 18 Years
A Beijing court has sentenced Ren Zhiqiang, a former real estate executive, to 18 years in prison on corruption charges, months after he called Chinese President Xi Jinping a “clown” for his handling … (…
