Vice Premier Liu He, who oversees China’s economic and financial policies, emphasized that China’s property market crisis, which struck fear among investors all over the world, was in general control. As reported by local media, Liu He made the statement at a financial forum in
According to survey results, the number of defaults in China’s real estate sector has increased this year by more than 150% compared to 2020. The data indicates that the strength of the Chinese real estate market is not a problem for specific companies such as Evergrande Group, which is experiencing bankruptcy. During the same period […]
Following Evergrande Group, another Chinese property developer has failed to pay interest on its bonds. Further disrupting the Chinese property market. According to Forbes, Fantasia (Fantasia Holdings Group) failed to settle interest on a $25.7 million debt. “China, with a high mortgage rate, is under increasing pressure”. Additionally, Country Garden Service,
Chinese property developer Evergrande Group is plagued by bankruptcy rumors, and it has been revealed that some of the group’s executives have deducted money from invested products before maturity. Major foreign media reported on the 19th that 44 high-ranking people in Evergrande group owned investment products from an investment company affiliated with Evergrande.