The sudden dumping of Fosun International’s property bonds last month has put the spotlight on Chinese businessman and investor Guo Guangchang, who is battling a massive liquidity crunch, with nearly $40 billion debt on the books, the Financial Times reported.
Moody’s sees the ‘contagion risk’ spreading across the world, the report said, adding that Guangchang has intensified efforts to boost liquidity through a wave of divestments that have exceeded $2 billion so far this year.
Read the full report: Financial Times.
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