China's real estate crisis intensifies as Shimao Group defaults on loan - reports

One month on from Evergrande default

clock • 1 min read
Shanghai Stock Exchange suspended trading on Shimao bonds
Image:

Shanghai Stock Exchange suspended trading on Shimao bonds

Chinese property developer Shimao Group Holdings’ debt troubles have deepened concerns over the Asian superpower’s property market and any potential spillover of the cash crunch further afield.

The Shanghai Stock Exchange suspended trading on several of Shimao's bonds on Friday (7 January), a day after the developer's failure to repay a loan sent its shares tumbling. Three sources close to...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Asia

John Redwood, chief global strategist for Charles Stanley

Charles Stanley's Redwood: Chimerica is so last decade

Both have hit problems in 2022

John Redwood
clock 25 May 2022 • 6 min read
Three-fourths of all AuM in mutual funds and ETFs sits in legacy products today.

Majority of global AuM in mutual funds and ETFs sits in legacy products

New funds struggle to stand out

clock 24 May 2022 • 2 min read
Luke Hickmore, investment director fixed income, abrdn

Jubilee economics - how does 1952 compare to 2022?

Some similarities

Luke Hickmore
clock 24 May 2022 • 4 min read
Trustpilot