Taking a hit: Apartment buildings in Qidong. Developers are facing rising financial stress as stricter rules around borrowing and a deleveraging campaign by authorities weigh on the sector. — Bloomberg
BEIJING: China’s indebted developers are struggling to meet Beijing’s tighter financing rules.
Two-thirds of the top 30 Chinese property firms by sales ranked by the China Real Estate Info Corp have breached at least one of the metrics known as the “three red lines,” Bloomberg-compiled data showed as of Oct 29.
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