Tag: property

A major Chinese property company has suspended offshore debt payments, deepening turmoil in the beleaguered sector.

However, the National Bureau of Statistics of China said the country’s advanced manufacturing and services sectors are growing. CNBC’s Evelyn Cheng reports.

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Moody’s has revised its outlook for China’s property sector from ‘stable’ to ‘negative’ despite the introduction of a slew of stimulus measures by China’s regulatory authorities to boost home sales and prop up a flailing property market.

China’s property market is in crisis. Real estate prices that skyrocketed over the past few decades have begun to fall back to Earth. Now the danger is that collapsing home values will also bring the world’s second-biggest economy down along with them.

Chinese retail sales jumped last month, data showed Friday, beating expectations and fuelling hopes that the country’s army of consumers are returning to help kickstart the world’s number two economy after an extended period of weakness.

China’s real estate crisis is showing no sign of abating, depriving the world’s No. 2 economy of one of its biggest growth drivers. Major developers like China Evergrande Group have already defaulted,