Zhang Peng, Modern Land’s president, in a file photo from a 2016 interview. Photo: Edmond So
Evergrande crisis: developer Modern Land (China) cancels US$250 million bond repayment plan on liquidity issues
- Modern Land had intended to repay a portion of its US$250 million bond due October 25, extend the deadline on the balance by three months
- The decision puts further stress on the China property market amid concerns about default risks at Evergrande, other developers
Zhang Peng, Modern Land’s president, in a file photo from a 2016 interview. Photo: Edmond So
