Chinese real estate developers are staring at enormous amounts of debt maturing this year, at a time when property sales have slowed and traditional borrowing markets remain closed off following Beijing's campaign to rein in borrowing in the sector.
Graphic: Chinese real estate debt maturing in the next three years, https://graphics.reuters.com/CHINA-DEBT/dwvkrknarpm/chart.png Developers in the country are facing an unprecedented liquidity squeeze as years of regulatory curbs on borrowing lead to a string of offshore debt defaults and credit rating downgrades.
China Evergrande Group has been struggling to repay more than $300 billion in liabilities, including nearly $20 billion of offshore bonds deemed in cross-default by ratings agencies last month after it missed payments. A 3.125per cent October 2025 bond issued by China's biggest developer by sales, Country Garden, has fallen about 17per cent this year to 73 cents as of Tuesday.
Il faut quitter la Chine avant d'être pris en otage ou vos entreprises confisquées.
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