Illustration by Perry Tse
Where are the white knights in China’s US$1.7 trillion property sector?
  • Sunac, which forked out 43.8 billion yuan in 2017 to help Wanda, defaulted on a US dollar bond last week, and had its rating cut twice by Fitch, deep into junk status
  • R&F, which bought 77 Wanda hotels for 19.9 billion yuan in 2017, had to sell its London asset at a 42 per cent discount
22 May 2022 - 1:22PM