More Chinese Developers Ask for More Time to Pay Back Bonds
More Chinese property developers have been trying to get extra time to make upcoming debt payments, as they continue to struggle with getting their hands on enough cash to repay creditors.
The repayment wrangling indicates that many Chinese developers remain snagged in a liquidity crisis despite government measures over the past few months to ease severe market and financing restrictions. So far, the measures, which aim to keep the industry from falling into financial turmoil, have failed to shore up sales or market confidence.
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