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(Bloomberg) Investment arms of Chinese local governments became major purchasers of land for property development last month, highlighting the financial strain on the real-estate sector and renewing concerns about repayment risks among these off-balance sheet state borrowers. ....
Yango Group Co Ltd has reached an agreement with investors to extend principal payments on onshore asset-backed securities they can redeem in November, two sources with direct knowledge of the matter told Reuters on Thursday. ....