The sales of China's real estate market have not improved significantly, and the debt pressure of developers such as Xuhui Holdings and other developers has also intensified, which has caused the price of Chinese waste dollars to fall to a record low.
Bloomberg Index shows that the price of high -yield US dollar bonds with real estate bonds fell 0.6%on Monday (October 17), reaching 55.7 cents after five consecutive days, falling below 8.The month's record low is 56 cents.
The stabilized property market policy that was previously introduced in China did not significantly stimulate sales recovery. During the National Day holiday, the area of newly -built commodity housing in 20 key cities decreased by 38%from last year's holidays.Shortly after the holidays, Xuhui Holdings, who had just obtained financing through the country's support, broke out the interest on the non -payable Hong Kong dollar convertible debt, which constituted a breach of contract.This once again sounded the alarm of private housing companies.
HSBC Bank analyst Guo Mixue (transliteration) and others wrote in the report that the Chinese housing market will go through a L -shaped recovery, which is only conducive to the highest quality state -owned enterprises and limited quantities.Private enterprises.The market has gradually lost patience and is unwilling to believe that private real estate developers may survive the prospects.
Xi Jinping, General Secretary of the Communist Party of China, emphasized in the opening speech of the 20th National Congress of the Communist Party of China that development is the "first priority" of the Chinese Communist Party's ruling country.The policy of clearing the epidemic and "housing does not fry" has not shifted.
When the US dollar bonds fall in a row, Chinese real estate stocks are also easy to fall.The Chinese Real Estate Index of Bloomberg Industry Research (BI) fell to a low of more than ten years last week, and has fallen by about 40%since this year.Longguang Group and Xuhui Holdings performed the worst performance here. Both companies' market value fell by about 90%this year.
