Chinese Property Developer Faces Debt Default Amid ‘Unprecedented Liquidity Pressure’

Chinese Property Developer Faces Debt Default Amid ‘Unprecedented Liquidity Pressure’
A man works at a construction site of a residential skyscraper in Shanghai on November 29, 2016. Johannes Eisele/AFP via Getty Images
Kathleen Li
Updated:

Evergrande’s debt default last year, kicked off China’s housing market slump that just continues to worsen as widespread COVID-19 curbs weaken buyer confidence and market demand.

With tumbling sales, short-term debts, and a lack of offshore refinancing, Chinese property developers are facing a liquidity crisis.

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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