The stand of China Fortune Land Development at an expo in Shanghai in March 2019. Photo: AFP The stand of China Fortune Land Development at an expo in Shanghai in March 2019. Photo: AFP
The stand of China Fortune Land Development at an expo in Shanghai in March 2019. Photo: AFP
China property

China Fortune Land’s US$813 million of missed debt payments sparks fears of further defaults under Beijing’s ‘three red lines’ for property developers

  • The Beijing-based developer appears to have fallen foul of tough new limits on borrowing designed to curb debt in mainland China’s property sector
  • China Fortune Land, which was downgraded by Fitch on Wednesday, said it is actively raising money and has set-up a creditors’ committee

Topic |   China property
The stand of China Fortune Land Development at an expo in Shanghai in March 2019. Photo: AFP The stand of China Fortune Land Development at an expo in Shanghai in March 2019. Photo: AFP
The stand of China Fortune Land Development at an expo in Shanghai in March 2019. Photo: AFP
READ FULL ARTICLE