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Chinese Property News

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Sunac rocks market, then government intervenes
May 20, 2022 (WiC 585)

Times are tough in China’s property sector. But might they be offering a major opportunity to the bravest of bond investors? Many of the bonds issued by debt-laden property firms, especially in the offshore market, have dropped into the junk ...

A flat reversal

More Chinese cities lift property market curbs to boost local economies
Apr 29, 2022 (WiC 582)

For anyone who has lived through the last few property market slumps in China, it is hard not to feel a sense of déjà vu. Since the beginning of the year, the housing market has been in a funk. The top 100 developers experienced a 53% ...

Evergrande funds seized

China’s biggest property firm fails to publish its annual report on time
Mar 25, 2022 (WiC 578)

In October last year China Evergrande was close to securing a lifeline in the wake of a worsening liquidity crunch. The Guangzhou-based developer agreed to sell a 50.1% stake in Evergrande Property Services – a major asset that seemed to ...

Shanghai surprise

Shimao sells off crown jewels to repay debts
Feb 11, 2022 (WiC 572)

When the pandemic forced the closure of most of China’s cinemas in 2020, Huayi Brothers was plunged deeper into a cash crisis. To save the day its chairman Wang Zhongjun put up his valuables for sale. These included a Van Gogh painting, a ...

Demolished status

Evergrande told to destroy its Hainan towers
Jan 14, 2022 (WiC 569)

On its official website the World Record Association (WRA) describes itself as a commercial firm that provides a “quality record service for the whole world”. It was established “through approval from the Hong Kong government,” it ...

Big, but failed

Evergrande on the verge of state-led restructuring
Dec 10, 2021 (WiC 567)

The Evergrande debacle has been a drama of many acts as the company stumbles from one crisis to the next, weighed down by more than $300 billion of debt. But are we reaching the final scenes in the story of its decline? The last few weeks have ...

The heart of the matter

Henderson Land goes all-in on Hong Kong property with a record bet
Nov 12, 2021 (WiC 563)

Sitting at the heart of some of the world’s most expensive real estate, World-Wide House (WWH) has been a bit of an outsider for years. Amid a sparkling cluster of grade-A office and luxury retail space in Hong Kong’s Central district, the 40 ...

Xi calls for flat tax

Long discussed levy on property owners looks set to be launched
Oct 29, 2021 (WiC 561)

The Communist Party of China (CPC) was created with a core mission of redistributing the means of production. On taking power in 1949 it started to do that with gusto. Within a few years landlords were all but eliminated as a social class, for ...

Private property

Real estate firms in delisting moves. Why now?
Oct 15, 2021 (WiC 559)

Hong Kong billionaire Joseph Lau first became linked to Evergrande founder Xu Jiayin when they became card buddies in the “Big Dee Club”, which included some of the city’s top tycoons. Members of the club have backed the varied ventures ...

Failure to close

Blackstone’s deal for SOHO China collapses
Sep 17, 2021 (WiC 556)

Anyone for tennis? At the women’s final of the US Open last weekend the cameras zoomed in on well-heeled spectators in the premium seats. Sitting alongside former player Andy Roddick and TV personality Gayle King, state broadcaster CCTV picked ...

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