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Chinese housing market

Chinese housing market
Chinese housing market
Sales agents outside the sales office of China Evergrande Grouup at the Billion Plaza II in Lai Chi Kok on April 18, 2020. The developer’s inaugural housing project in Hong Kong’s Tuen Mun area flopped after an initial buzz during its launch. Photo: Xiaomei Chen
Evergrande crisis

More local authorities in China increase scrutiny on Evergrande projects

More local authorities tightened their grips on Evergrande’s property projects, with a community in Guangzhou ceasing contract with the developer for local shantytown renovation project.

Evergrande crisis

Can the absence of mainland traders put a stop to stock rout in Hong Kong?

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Evergrande crisis

Exclusive | Hong Kong’s exposure to Evergrande crisis ‘very minimal’, financial secretary says

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Evergrande crisis

Evergrande: End of the road for developer as US$37 billion bill looms?

The Shenzhen-based company tapped the bond markets nearly 40 times in a four-year period and amassed hundreds of billions of yuan in bank loans as it sought to expand its core residential housing business and diversify the scope of its operations.

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Even without considering any expenses for marketing or human resources, Evergrande would not have enough finished property projects in its entire portfolio to generate the cash that can meet its financial obligations. Illustration by Lau Ka-kuen
Evergrande crisis

The View | Evergrande debt crisis could force China’s hand on reforming government

An Evergrande collapse is unlikely to bring down China’s financial system, but unresolved problems could still threaten social stability. Bloated government, dependence on land sales revenue, shadow banking and inefficient urbanisation all need urgent reform.

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Evergrande crisis

Macroscope | Despite Evergrande’s woes, investors are worrying more about the US

With inflation worries and a contentious debt debate on their hands, the pressure is on Fed policymakers to raise interest rates and withdraw asset support without undermining the fragile economic recovery.

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Evergrande crisis

Evergrande makes partial repayment to Chinese high-yield debt investors

Embattled developer is said to have repaid 10 per cent of money owed to buyers of its domestic high-yield wealth management products. The balance hangs in the air amid disapproval from local authorities.

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The headquarters of China Evergrande Group in Shenzhen, Guangdong province. Photo: Reuters
Evergrande crisis

US money manager buys Evergrande debt while others turn away from crisis

Marathon Asset Management is a buyer of Evergrande’s distressed debt while others are shunning the credit as the developer missed payments to contractors and suppliers.

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Evergrande crisis

Wheels come off Evergrande Auto’s production plans amid credit crunch

China Evergrande Group’s carmaking unit is struggling to keep its production plan alive, after a capital crunch forced it to suspend part of its EV projects

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Evergrande crisis

Hong Kong banks can handle stress related to Evergrande debt crisis: source

Hong Kong banks have hardly extended loans to Evergrande as they heeded the HKMA’s warnings to reduce exposure to highly leveraged Chinese companies, source says.

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China Evergrande Group is struggling with a debt burden of more than US$300 billion. Photo: AFP
Evergrande crisis

Hang Seng advances as power producers rebound on tariff hike prospects

Hong Kong stocks rose for a third day as power companies recouped losses on electricity tariff speculation. Evergrande rallied after an asset-sale plan to trim its debt load.

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A screen showing the Hang Seng index levels outside a bank branch in Mong Kok, Hong Kong. Photo: Felix Wong
Evergrande crisis

Cannavaro leaves Guangzhou FC amid Evergrande crisis

Italian boss Fabio Cannavaro leaves by mutual consent after ups and downs at Chinese Super League giants, with club’s future uncertain.

Evergrande crisis

Evergrande cuts Shengjing Bank stake to repay loans as more deadlines loom

Evergrande’s founder Hui Ka-yan is racing against time to save his property empire from collapsing with more asset sales. The developer is expected to ask for more time to service another offshore bond.

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Evergrande crisis

Macroscope | Beyond Evergrande crisis: why China still has strong investment appeal

Away from the Evergrande debt crisis and the real estate sector, there are still opportunities in the industries Beijing wants to see expanded. Notably, China’s recent tech crackdown did not extend to industries it is championing, like semiconductors.

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Visitors look at a semiconductor device at Semicon China, a trade fair in Shanghai, on March 17. While Beijing has clamped down on parts of the consumer tech sector, it is encouraging hard tech, including semiconductors. Photo: Reuters
Evergrande crisis

The View | Changing growth model, not Evergrande, is top threat to China’s prosperity

The new emphasis on redistribution plus re-regulation strikes at the heart of the reform that has underpinned China’s growth. The Evergrande crisis will pass, but a regulatory clampdown amid a push to redistribute wealth could rewind the Chinese miracle.

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An unfinished residential building is pictured through a construction site gate at Evergrande Oasis, a housing complex developed by Evergrande Group, in Luoyang, Henan province, on September 16. Photo: Reuters
Evergrande crisis

Chinese bankers pick up own shares cheap, thanks to Evergrande

The wave of buy-backs may instil some confidence in China’s beleaguered banking stocks as they size up their exposure to Evergrande’s US$300 billion liabilities.

Evergrande crisis

Macroscope | China Evergrande debt crisis shows need to fix global capitalism’s flaws

The property giant’s woes reflect lingering global problems with excess leverage and paltry regulation. Policymakers worldwide should be intervening more with tougher regulation, greater prudential oversight and improved transparency to ensure global stability.

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Evergrande crisis

China’s anti-corruption chief flags ‘deep-level’ probe into financial sector

The Central Commission for Discipline Inspection will audit 25 organisations as part of an anti-corruption drive aimed at preventing ‘systemic financial risk’.

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The debt issues of property developer Evergrande have highlighted risks to the Chinese economy. Photo: Reuters
Evergrande crisis

Hong Kong stocks are cheapest against Chinese equities in a year

The 33 per cent discount that the Hong Kong shares of dual-listed companies have to their mainland China-traded stocks was the biggest since October 15 last year, according to a gauge compiled by Hang Seng Indexes Company.

Evergrande crisis

Evergrande scraps EV listing while CNOOC, Dongfeng Motor unveil new plans

Troubled developer’s car-making unit missed the opportunity to raise US$5 billion in its onshore listing plan, while CNOOC and Dongfeng Motor unveiled new offering plans in Shanghai and Shenzhen.

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Evergrande crisis

China Evergrande’s EV unit halts projects because of fund shortage

China Evergrande New Energy Vehicle Group, which is developing the Hengchi car brand, warns it may not be able to pay wages if it cannot obtain new capital soon.

The China Evergrande New Energy Vehicle Group Ltd. research headquarters in Shanghai, China, on September 24, 2021. Photo: Bloomberg
Evergrande crisis

Is Evergrande too big to fail?

This series looks at the Evergrande crisis and what next for the Chinese property developer and home builder and its chairman, real estate magnate Hui Ka-yan.

Is Evergrande too big to fail?
Evergrande crisis

Childhood dreams fuelled a debt binge that’s taken Evergrande to the brink

Except for a rap on the knuckles, Evergrande was mostly spared from China’s 2017 debt crackdown, which led to the downsizing of Anbang, CEFC, HNA and Wanda.

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Evergrande crisis

China Briefing | The Evergrande saga marks the end of China’s long property boom

The writing is on the wall for debt-fuelled growth, writes Wang Xiangwei.

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Evergrande crisis

Banks, fund managers cut exposure to China Evergrande as outlook worsens

Financial companies have sought to reassure investors in recent days, saying their exposure to the world’s most indebted developer was immaterial or minimal.

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The Evergrande Center logo outside a building in Shanghai. Photo: EPA-EFE
Evergrande crisis

Hong Kong stocks log second weekly loss as Evergrande keeps market on edge

Stocks slumped for a second consecutive week as a Thursday bond payment deadline passed without any update from Evergrande. More clarity on its debt situation is needed to calm frayed nerves, some investors say.

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Evergrande’s headquarters in Shenzhen was besieged by retail investors earlier this month. The group’s debt crisis continues to sway market sentiment amid official silence. Photo: Getty Images
Evergrande crisis

Evergrande: funds see ‘controlled demolition’, default, state takeover

Global fund managers see a range of outcomes, from outright default to state takeover of assets, amid official silence. The common thread is the need to prevent the crisis from triggering any social disorder.

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Evergrande crisis

Editorial | Evergrande pain the price to pay in new growth approach

The world’s most indebted property firm has crossed Beijing’s so-called three red lines and, although an uncontrolled collapse must be avoided, China is right to pursue other avenues of development.

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