(Bloomberg, New York) Since this year, the stocks of Chinese real estate developers and US dollar bonds have suffered at least $ 90 billion (S $ 123.4 billion).
According to Bloomberg, since this year, the stocks of Chinese real estate developers have fallen by about 55 billion U.S. dollars, touching the lowest level since 2012; US dollar bills have fallen by more than 35 billion U.S. dollars, of which the US dollar bill has fallen to a historical low pointEssence
This year, Chinese borrowers owe a record of $ 28.8 billion offshore bonds. These arrears companies are almost all real estate openrs.
Chinese house sales have been downturn for a year.Real estate developers are experiencing a shortage of cash, and some real estate projects have stopped working, which has caused collective suspension of buyers.The suspension of loans spread to real estate in Henan, Shanxi, Jiangsu, Jiangxi, Hunan, Hubei, Guangxi, Shaanxi and other provinces.
The Chinese government introduced the "three red lines" policy in August 2020 to restrict the loan limit of real estate developers, which led to the phenomenon of debt defaults that many large developers were unable to raise funds.
Faced with the current dilemma of real estate developers, the Chinese government still adheres to the "housing and not stir -fry" policy, and the measures to boost the financial status of developers are not great.
Gary Ng, a senior economist of French Foreign Trade Bank, said: "Because it is unlikely to see major policy changes, Chinese real estate developers, the golden age of rapid income and high leverage, may have ended."
