Economics
It's All Going Wrong for China Developers as Bonds Sink
- Financing constraints, falling yuan weigh on builders
- Officals add restrictions on proceeds from overseas bond sales
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The Chinese property industry’s bad year keeps getting worse, sending bonds of some developers to record lows and triggering fresh concerns about a major pillar of the world’s second-largest economy.
Tighter financing constraints, a state campaign to rein in real estate prices and a tumbling yuan are battering the sector just as it faces an unprecedented wall of maturing offshore debt.