(Hong Kong News) The debt crisis caused by the Chinese real estate market has increased increasingly and splies to other economic fields.The total breach of contract throughout the year is more than double.
The Hong Kong South China Morning Post reported that a research deputy director of the ICBC International in Hong Kong said that as of now, the amount of default by Chinese bond issuers has reached 20 billion US dollars, far exceeding the $ 9 billion in last year.Among them, bond defaults caused by real estate developers accounted for a major.
A senior credit strategy analyst at Asia in Australia said that so far this year, 18 Chinese companies that have fallen into a default of overseas market bonds, 18 are real estate developers, which have approached 21 last year.
Analysts also said that it is estimated that the default rate of bonds overseas and domestic bonds will increase slightly this year, of which the domestic will increase from 1.9 % to 2.2 % or 2.3 %, and overseas will need to be accurately estimated.
China's economic growth has slowed down. The second quarter of this year's GDP decreased by 2.6 % compared with the first quarter, an increase of 0.4 % year -on -year.Essence
Reports quoted Bloomberg data that as of the end of the year, Chinese housing companies will face $ 31.7 billion in bonds. So far this year, the overseas bonds of US $ 26.2 billion in the first half of the year are delayed, almost all of them come from real estate companies.
