HomeEconomy5. October 2021, 6:49 p.m.
Evergrande: competitors also lacking liquidity
The crisis affecting Chinese real estate companies is increasingly widespread. After debt-laden Evergrande missed its bond interest payment deadlines, petty rival Fantasia Holdings has now also missed an interest payment deadline. In addition, the rating agencies have downgraded the solvency of property developer Sinic and warned against defaults. The mood on the Asian stock markets was gloomy Tuesday, including the fall in real estate values. Evergrande shares have been suspended pending a possible sale of shares. The two real estate companies are much smaller than Evergrande. Their problems are fueling investor concerns that the Chinese housing market bubble is about to burst and will affect other industries and the entire financial system.
© SZ of October 6, 2021 / Reuters