China Real Estate Stocks Climb Amid Debt Defaults Crisis

China Real Estate Stocks Climb Amid Debt Defaults Crisis
A man walks past a stocks display board showing the Hang Seng Index (HSI) down by 5.56 percent after trading closed for the day in Hong Kong on May 22, 2020. Anthony Wallace/AFP via Getty Images
Kathleen Li
Updated:
0:00

China property shares rose dramatically after China proposed countermeasures to prevent risks in the debt-ridden real estate sector at the latest financial stability meeting. The scale of capital invested in the stock market was an extraordinary sign, Chinese media said.

Sunac China, China’s third-largest property developer headquartered in the northern coastal city of Tianjin, has 17 billion yuan ($2.67 billion) of onshore and offshore bonds maturing in 2022, and its issuer default rating was downgraded by Fitch Ratings on March 13, reflecting further uncertainty over its debt defaults.
Kathleen Li
Kathleen Li
Author
Kathleen Li has contributed to The Epoch Times since 2009 and focuses on China-related topics. She is an engineer, chartered in civil and structural engineering in Australia.
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