Banks have started to dial back their exposure to the ailing sector with total real estate loans rising just 3.3% this year while overall lending rose 7.9%
The developer will issue 870 million new shares, or 3.6% of the enlarged share capital, at HK$3.25 each, to professional and institutional investors in the share sale
The beleaguered developer's two most senior executives submit their resignations after audit reveals involvement in improperly diverting funds
JPMorgan has raised its emerging markets corporate high-yield default forecast to 10.7% for 2022, and said on Thursday Chinese developers' default rate could be near 40%.
The CSI300 Bank index fell as much as 3.3% in early trading, its lowest since March 2020, hitting banks and developers as the 'Stop Mortgage Repayment' protest spreads to over 100 projects