liquidity crisis

New Business

China Vanke hit with fresh S&P downgrade amid mounting default concerns

Global ratings agency S&P has downgraded China Vanke, as the troubled developer grapples with mounting debt and fragile cash flow,…

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New Business

Chinese developer Sunac reaches deal with key creditors on offshore debt revamp plan

Sunac China Holdings has reached an agreement with key creditors to restructure US$9.6 billion in offshore debt, marking another step…

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New Business

China’s new-home prices extend decline for 22nd month, but stimulus offers hope

China’s new-home prices fell for a 22nd straight month in March, but the declines continued to narrow as government support…

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New Business

China’s home prices drop for 21st straight month as property recovery remains elusive

China’s new-home prices fell for the 21st straight month in February as a recovery continued to elude the key economic…

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New Business

China Vanke’s Hong Kong unit sees strong sales in Tai Po project despite mortgage concerns

China Vanke sold nearly all of the more than 200 units on offer at its Le Mont project on the…

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Some Hong Kong banks refuse mortgages for China Vanke’s Le Mont project in Tai Po

Standard Chartered, one of the city’s three currency-issuing banks, and Chong Hing Bank were not accepting mortgage requests from potential…

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Hong Kong court adjourns Country Garden liquidation-petition case until May 26

Justice Linda Chan adjourned the case until May 26 after hearing a petition from Ever Credit, a unit of Hong…

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New Business

Indebted developer Sunac China faces liquidation threat in Hong Kong

A liquidation petition was filed against indebted developer Sunac China Holdings in Hong Kong amid its efforts to restructure its…

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New Business

Chinese builder Country Garden details offshore debt restructuring

Indebted Chinese developer Country Garden Holdings has proposed restructuring terms that aim to reduce its offshore debt by up to…

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New Business

Country Garden pledges to deliver homes on time amid debt restructuring, litigation

Country Garden Holdings pledged to deliver homes to buyers on time and maintain good communications with authorities and stakeholders, as…

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