After the release of China’s first-quarter GDP growth, International Monetary Fund says the lack of a ‘comprehensive response’ could lead to less economic growth than Beijing is hoping for this year.

Accounting firm vows investigation, possible legal action against creators of ‘fabricated’ letter circulating on social media, which names partners it claims were involved in ‘auditing failure’ tied to the indebted developer.

Debt-laden property developer Times China Holdings is faced with a winding-up petition as it becomes the latest property company creditors are seeking to liquidate.

Troubled property developer Shimao Group Holdings is facing a liquidation suit brought by China Construction Bank, the country’s second-largest lender, for a financial obligation amounting to around HK$1.58 billion (US$201.8 million).

Distressed Chinese property developer downplays the possibility of a liquidation after it hired the financial advisory firm to assess the amount of money creditors could recover in such an event.

Pan Gongsheng, governor of the People’s Bank of China, has attempted to dispel concerns over the country’s laggard property market in closed-door talks with executives and financiers.

The Shanghai-based firm is seeking approval from offshore creditors for a restructuring plan, according to a filing made to the Hong Kong stock exchange late on Monday, as part of its latest efforts to avoid liquidation.

Embattled property developer Country Garden said it is injecting funds into an unfinished skyscraper project by introducing a new partner, an announcement which sent its shares soaring.

A loan for China Vanke, one of China’s largest developers, could provide temporary relief to a sector rocked by defaults and by a court order for the liquidation of China Evergrande Group, the world’s most indebted developer.

Evergrande, which has the dubious honour of being the world’s most indebted developer with US$332 billion of liabilities, stands accused of inflating its revenue by 564 billion yuan (US$78 billion) preceding its collapse.

The impact of Monday’s downgrade is ‘controllable’, the second-largest Chinese developer says. Its shares rose more than 10 per cent to HK$6.30 on Tuesday on belief commercial banks will raise up to US$11.1 billion to repay its debts.

‘China faces considerable domestic challenges, from a sluggish property market to weak consumer sentiment, Wharf says. After a poor result in 2023, more time is needed to revive the property markets, it says.

The international ratings agency has stripped state-backed property giant China Vanke of its investment-grade credit rating amid concerns over its liquidity and ability to access funding amid declining sales.

The State Council is coordinating efforts related to supporting China Vanke, according to sources. Any debt repayment troubles at Vanke could further dampen market confidence, analysts say.

The country’s second-largest developer has assured investors it has the funds in place to repay its outstanding offshore debts coming due soon, as its shares and bonds tumbled amid rumours about liquidity distress.

A plunge in contracted sales last month underscores why some creditors are running out of patience to recover their debts.

Some of China’s largest insurers are sounding the alarm over the debt risks of China Vanke, according to people familiar with the matter, as shares and bonds of the firm hit record lows on repayment concerns.

Receivers are seeking bids for 10E on Black’s Link, a three-storey detached house on The Peak linked to Hui Ka-yan, whose flagship Evergrande Group was forced into liquidation by a Hong Kong court in January.

Family members of Hui Ka-yan may be scrambling to move their money around to prevent it from being confiscated, a month after the property giant was ordered to wind up, according to analysts.

Indebted developer vows to ‘vigorously’ fight the ‘aggressive action by a sole creditor’ over a ‘low proportion’ of its offshore debts.

Global restructuring specialists have increased their headcount as rising defaults by Hong Kong-listed Chinese property developers requires them to enter into restructuring talks with creditors or face liquidation.

New home prices in China’s top cities fell 0.37 per cent in January versus 0.45 per cent in December. A sharp cut to the loan prime rate indicates further loosening could be on the way, Goldman Sachs says.

Sino Land and Hysan Development, two major Hong Kong property developers, expect ‘uncertainties’ to continue to affect the city’s real estate market, they said in their latest financial reports on Thursday.

Embattled mainland Chinese property developer Sunshine 100 is evaluating the impact of a winding-up order against its controlling shareholder, Joywise Holdings, according to a filing with the Hong Kong exchange.

The debt crisis at Redsun Properties is going from bad to worse as it has missed payments on several offshore bonds since mid-2022 as China’s housing market struggles to overcome a three-year slump.

Defaulted property developer CIFI Holdings has for the third time in two months unveiled a loss-making asset disposal plan as it looks to fund operations and alleviate liquidity pressure.