China’s Largest Real Estate Developers Face Financing Crunch

China’s Largest Real Estate Developers Face Financing Crunch
A man is walking past a closed real estate agency in Rongcheng county in China's Hebei province on April 3, 2017. STR/AFP via Getty Images
Nicole Hao
Updated:

A new study on China’s real estate market reported by state media paints a bleak picture: 76 of the biggest real estate developers need to repay 2.5 trillion yuan (about $373.6 billion) over the next 12 months, including 177 billion yuan (about $2.64 billion) in interest.

Such enormous debt has prompted real estate firms to refinance.

Nicole Hao
Nicole Hao
Author
Nicole Hao is a Washington-based reporter focused on China-related topics. Before joining the Epoch Media Group in July 2009, she worked as a global product manager for a railway business in Paris, France.
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