With its regional governments facing unprecedented debt woes, economists say Beijing has realised it needs to urgently throw cash at the problem
Reports that China's third biggest developer is considering a debt restructuring, coupled with a warning that it might report up to $7.6 billion in losses for the first half, spooked investors
Real estate giants like Country Garden and Sunac China saw their shares rise 18% and 17% while investors also piled into property firms’ bonds
The struggling real estate giant posted a combined loss of $81 billion for 2021 and 2022, deepening investor doubts about the viability of the restructuring deal
The embattled property developer's overdue results showed steep losses and liabilities prompting some to question the viability of its restructuring plan
But some analysts warned the move that sparked the share price rebound won’t be enough to turn around the country’s crippled property sector
China’s securities watchdog has loosened restrictions on the sector's equity fundraising in a bid to improve liquidity
China's property sector has over the past two years been thrust into a severe debt crisis with many developers defaulting on payments
The Economic Daily commentary comes with some property investors clamouring for more supportive measures for the sector from Beijing
The reading marked the first contraction in China’s industry since January when an abrupt exit from zero-Covid policies sparked a wave of infections across the country
Major Chinese cities have seen a rebound in home sales over the past month, as pent-up demand was unleashed after the roll back of stringent Covid curbs
The real estate firm was among many Chinese developers that defaulted last year as the sector reeled under a debt crisis