China: $124.5 BN of bonds have already defaulted
Edited By WION Video Desk
Published: Oct 22, 2023, 05:45 IST | Updated: Oct 22, 2023, 05:45 IST
More debt defaults are looming in China, as troubled developers grapple with a weak outlook for home sales and continue to face challenges in raising funds. According to Creditsights, 124.5 billion dollars of bonds have already defaulted in the 175 billion property dollar bond sector, including China's once-leading developer, Country Garden. 60.5 billion dollars in Chinese property bonds are due in the next six months, with offshore bonds comprising a significant portion.
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