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