Evergrande said the key group of creditors entered into restructuring support agreements. Its debt restructuring plan could take effect later this year.
April 5, 2023Chinese offshore dollar bonds have ended 14 months of losses. China's banks have vowed to extend at least USD 179 billion of financing help to developers.
December 16, 2022Local governments will be allowed to relax interest rate floors for first-home buyers. Tax refunds are available for those selling their home to buy a new one.
October 4, 2022Construction on 38 pre-sold property projects will resume by the end of September. Work will accelerate on 62 other projects already restarted.
September 14, 2022The FRC is concerned about deposits held by Evergrande's property services unit that were pledged as security for third parties to obtain bank loans.
August 17, 2022The PBOC will provide CNY 200 billion in funding to state owned banks, which will be tasked with financing the resumption of stalled real estate projects.
August 1, 2022About 12 developers will be supported by banks and distressed debt managers in the first wave of the programme.
April 28, 2022Lenders are being asked to accelerate lending to homebuyers and developers. Bad debt managers are being asked to buy up property assets and help restructure smaller lenders.
February 25, 2022Regulators are considering allowing real estate developers to access cash held in escrow from pre-sales of uncompleted properties.
January 24, 2022Project mergers and acquisitions between real estate companies are the most effective market-oriented means for the industry to resolve risks, said the PBOC's Zou Lan.
January 5, 2022