The Evergrande crisis is spreading. Here are other Chinese property developers that are in default or wobbling.

[patero]

As I mentioned earlier Evergrande made the $US 83.5 million bond payment at the last minute to avoid default but that only buys them another week. They know the implications for themselves and the entire Chinese high yield bond market if they default, should be interesting to see how the next month plays out with four more payments due.

 

[qwerrty]

if our comrade chang says it, then china is ok. lol. i'd get worried if he predicts the rise of china.

 

[Indos]

As I mentioned earlier Evergrande made the $US 83.5 million bond payment at the last minute to avoid default but that only buys them another week. They know the implications for themselves and the entire Chinese high yield bond market if they default, should be interesting to see how the next month plays out with four more payments due.

China SOE has bought some of their stake earlier, so this could be their source of cash at the mean time to pay some of their obligation

 

[patero]

China SOE has bought some of their stake earlier, so this could be their source of cash at the mean time to pay some of their obligation

That's promising. As critical as some of us can be of the CCP it's not really in anybodys interests to see Evergrande collapse, too many people will be affected. A lot of the victims will be ordinary Chinese people buying homes or smaller business owners such as contractors, there are some very sad stories coming out.

A controlled demolition is the best outcome with local government taking ownership of unfinished projects and completing them. There are two big unknown factors that will come into play in the coming months (or years), off balance sheet liabilities and potential write-downs of overvalued inventory. And there is a big warning sign if more apartments are liquidated too quickly, houses prices could really tank (already falling over the last two months) .

 

[qwerrty]

so another china collapse story not coming true. next...

--
BEIJING, Oct 24 (Reuters) - China Evergrande Group (3333.HK) said on Sunday it had resumed work on more than 10 projects in six cities including Shenzhen - a statement that comes after it appeared to avert default with a last-minute bond coupon payment last week.

https://www.reuters.com/business/chinas-evergrande-says-resumes-work-more-than-10-projects-2021-10-24/

 

[GumNaam]

I Hope the Chinese Govt is going to let these failed companies fail. I really want this Evergrande to fail and go into bankruptcy. These companies mainly have loans in the form of Bonds mainly held by US/EU investors. These investors are NOT going to GET A DIME back once these companies fail. Bye, bye to $300 Billion from Evergrande, and another $700 Billion from other Chinese Developers. In other words, US and EU investors will loose over, wait for it, $1-TRILLION DOLLAR OF INVESTMENT !!!

that's a lotta money outta the western real estate market.