Evergrande Resumes Construction on 95% of China Projects, says unit
A unit of Evergrande said that the distressed developer has resumed construction at 95% of its project sites across China. The unit was Evergrande’s Pearl River Delta business which mentioned that work has resumed on 734 projects across China as of March 27, of...
Agile and KWG Downgraded to B- by S&P
Agile was downgraded to B- from B+ after the delay in publishing its audited 2021 results, indicating weak reporting, governance, and risk management. A potential acceleration of debt payments could occur, further weakening its liquidity. As per its 2021 interim...
China Revises Audit Secrecy Rules to Help Companies Prevent US Delistings
The China Securities Regulatory Commission (CSRC) said that it would change confidentiality laws that prevent its overseas-listed companies from providing sensitive financial information to foreign regulators. The rules were last updated in 2009 and are outdated, it...
China Developers Face $11bn of Bond and Trust Payments in April
The Chinese property sector has RMB 53.6bn ($8.5bn) in trust payments due April, according to data tracker Use Trust. Bloomberg also adds that stressed developers have $3.1bn in dollar and onshore bond payments during the month. Below are some details of the payments...
