Residential and commercial buildings in Xiamen, China. Chinese builders have been slammed by a host of headwinds, including a falling yuan. Photo: Bloomberg

Weakening yuan piles pressure on highly indebted Chinese property developers

  • The yuan, which has depreciated by 3.84 per cent in August, is bound to hurt mainland developers that have US$19.3 billion of offshore debt maturing in the 12 months to July 2020
  • Foreign currency debt now accounts for 25 per cent of Chinese developers’ total debt, up from 20 per cent at the end of June 2018, according to Moody’s
Topic |   China property

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Residential and commercial buildings in Xiamen, China. Chinese builders have been slammed by a host of headwinds, including a falling yuan. Photo: Bloomberg
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