Liquidity continue to desert Chinese developers while more dollar bonds come due. Photo: Weibo
Liquidity continue to desert Chinese developers while more dollar bonds come due. Photo: Weibo

Evergrande crisis: distressed exchanges, default waivers build as Chinese developers wonder, where’s the policy stimulus?

  • Zhenro and Jingrui are joining other cash-strapped developers in delaying debt repayments, weakening bond covenants
  • China’s housing market is facing the worst slowdown in a decade after a months-long decline in home sales

Liquidity continue to desert Chinese developers while more dollar bonds come due. Photo: Weibo
Liquidity continue to desert Chinese developers while more dollar bonds come due. Photo: Weibo
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