China plans as much as $44 billion actual property fund for hard-hit sector, sources say

China Evergrande Group’s Evergrande Center is seen among other buildings in Shanghai, China, September 24, 2021. REUTERS / Aly Song Sign up now for FREE unlimited access to Register Fund size was initially set at 80 billion yuan -source The news comes as regulators scramble to reassure investors Funds alone won’t ‘solve all problems’ … Read more

China Evergrande CEO, CFO resigns after investigation into actual property companies unit

July 22 (Reuters) – China Evergrande . Group (3333.HK) said on Friday that its chief executive and chief financial officer had resigned after a preliminary investigation found they were involved in the diversion of loans guaranteed by the publicly listed unit. declared to the corporation. The indebted firm is investigating how deposits worth 13.4 billion … Read more

China ramps up mortgage help efforts for builders amid mortgage boycott

A woman walks near the construction site of apartment buildings in Beijing, China, July 15, 2022. REUTERS / Thomas Peter Sign up now for FREE unlimited access to Register SHANGHAI/BEIJING, July 18 (Reuters) – Chinese regulators stepped up efforts to encourage lenders to extend loans to qualified real estate projects as the real estate … Read more

Chinese language property developer Shimao defaults on $1 billion bond

HONG KONG, July 3 (Reuters) – Chinese property developer Shimao Group (0813.HK) missed interest and principal payments on a $1 billion offshore bond due on Sunday, in the latest blow to China’s troubled property market. The default is the first offshore payment missed for the Shanghai-based developer. With $6.1 billion worth of international bonds, Shimao … Read more