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A Hong Kong court on Monday adjourned a hearing into a petition seeking the liquidation of Kaisa Group until June 24, giving a breather to the embattled Chinese developer amid Beijing's efforts to...
A Hong Kong court on Monday adjourned a hearing on a petition seeking the liquidation of Kaisa Group until June 24, giving the embattled Chinese developer some respite as it works on its...
A Hong Kong court on Monday adjourned a hearing on a petition seeking the liquidation of Kaisa Group until June 24, giving the embattled Chinese developer some respite as it works on its debt restructuring plan, reports Reuters. The Shenzhen-based developer has been working to restructure its offshore debt for two years after defaulting on…
The Shenzhen-based developer has been working on an offshore debt restructuring for two years after defaulting on $12 billion in offshore debt in late 2021.
China has taken decisive measures to tackle the crisis in its property sector, which has been a crucial driver of its economic growth. The People's Bank of China has announced a 300-billion-yuan relending facility to support government-subsidized housing projects. Local state-owned enterprises are encouraged to purchase completed commercial homes to provide affordable housing. Commercial banks have issued significant loans for real estate development and individual housing.