Two-thirds of 50 major private builders in China are defaulters, per Bloomberg.
Per Bloomberg: Out of the nation’s top 50 private-sector developers by dollar bond issuance, 34 have already suffered delinquencies on offshore debt, according to Bloomberg-compiled data as of Sept. 1.
Chinese junk dollar bonds, dominated by developers, now hover around 67 US cents on average, according to a Bloomberg index.
The Bloomberg index tracking developers-dominant China junk dollar notes lost 5% in August, the most since May.
Two-thirds of 50 major private builders in China are defaulters
9/5/2023
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