Nov 01, 2022 06:53 PM

BUSINESS

Debt Woes Grow for Chinese Developers CIFI, Greenland

Photo: Greenland

Photo: Greenland

Two large Chinese developers have flagged further debt issues as the nation’s real estate crisis shows little sign of abating.

Hong Kong-listed private developer CIFI Holdings Group Co. Ltd. said Tuesday it has suspended all principal and interest payments on about $6.85 billion in offshore debts. The firm hinted that it may seek debt restructuring, saying it would “explore a holistic solution” to the credit crisis.

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