Real Estate
Chinese Developers Begin New Year With Deepening Debt Woes
- Sunac China faces another liquidation petition in Hong Kong
- Vanke grapples with record $4.9 billion in debt coming due
This article is for subscribers only.
Chinese property developers are starting 2025 facing liquidation petitions, sliding share prices and mountains of debt, as the nation’s real estate crisis enters its fifth year with little sign of improvement.
On Friday morning, shares of defaulted Chinese builder Sunac China Holdings Ltd. fell as much as 30% in Hong Kong, the most since Oct. 8. That was after the company, a white knight to a major peer a few years back, received another winding-up petition.