Two Thirds of China’s Top Developers Breach a ‘Red Line’ on Debt
- Evergrande, China Railway and Greenland are among the builders
- Property firms are under mounting strain amid deleveraging
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China’s indebted developers are struggling to meet Beijing’s tighter financing rules.
Two-thirds of the top 30 Chinese property firms by sales ranked by the China Real Estate Info Corp. have breached at least one of the metrics known as the “three red lines.” Greenland Holdings Corp., Jiangsu Zhongnan Construction Group, and Guangzhou R&F Properties Co. have not met any of the metrics, Bloomberg-compiled data showed as of Oct. 29.