Caixin
Jan 10, 2023 08:58 PM
FINANCE

Chinese Developers Face $141 Billion Wall of Maturing Bonds in 2023

A residential development under construction on Nov. 27 in Huaian, East China’s Jiangsu province. Photo: VCG
A residential development under construction on Nov. 27 in Huaian, East China’s Jiangsu province. Photo: VCG

Chinese developers are facing growing pressure on debt repayment as 958 billion yuan ($141 billion) of onshore and offshore bonds come due by the end of this year, data from a property think tank show.

The figure is 70 billion yuan more than last year, Liu Shui, a senior researcher at the China Index Academy, wrote in a note Monday. Bonds issued in the onshore market account for nearly two-thirds of the total, the academy said in a separate report Friday.

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