The country's largest private developer won approval from creditors late on Friday to extend payments for an onshore private bond, but it faces another challenge next week

State lenders have moved to ease pressure on their margins as part of a move to bolster the ailing property sector; home buyers will able to apply for lower interest rates from September 25

A former steel industry employee from a rural village, Hui enjoyed an astonishing rise to become China's richest man, but the bold days of using endless debt to build are now over

China's biggest private developer says it faces default risks, while creditors prepared to vote on its proposal to delay payment for an onshore private bond; offshore creditors have in talks with a US law firm

Decision comes as state banks are tipped to cut interest rates on existing mortgages, while other cities could follow Guangzhou's move

Impacts felt by currencies such as the Aussie dollar, and across many sectors such as New Zealand dairy products, shares of luxury goods, to miner BHP and the Las Vegas Sands casino firm

Evergrande said its ability to continue will depend on implementation of its offshore debt restructuring plan, and successful talks with the rest of the lenders on repayment extensions

On Friday, Evergrande said it had "adequately" fulfilled exchange guidance for the resumption of trade of its Hong Kong-listed stock

The country's central bank also said it would stick to the principle that houses are for living in and not vehicles for speculation

Modest rate cuts and vague promises of support for debt-mired developers have failed to restore sentiment; fund managers say they need to see more state money flowing before they return

Workers at dorms on two Country Garden sites in Tianjin, a port city of 14 million people about 135 km (84 miles) southeast of Beijing, complained of months without pay

Shanghai blue chips saw another fall, but the Nikkei, Hang Seng and other key regional indexes all saw gains on Wednesday