CX DAILY

CX Daily: Developers Impose Deeper ‘Haircuts’ on Creditors in Latest Debt Overhauls

Published: Jul. 8, 2025 9:20 a.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

TOP STORIES

Property /

Cover Story: Developers impose deeper ‘haircuts’ on creditors in latest debt overhauls

As China’s real estate slump drags on with no recovery in sight, distressed developers are shifting toward more aggressive debt restructuring for survival, forcing creditors to swallow deep losses.

The strategy marks a perilous new chapter in the country’s years-long property crisis. Companies are now slashing tens of billions of yuan from their liabilities through restructuring plans that often hinge on creditors accepting severe “haircuts” — or risk getting even less in bankruptcy.

Register to read this article for free.

Register

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Save an extra $50. Introductory offer for new readers. Subscribe now.

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Powerful Quake Strikes Off Japan

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

China Business Uncovered Podcast: Inside Vanke and China’s Property Reckoning

00:00

00:00/00:00

MOST POPULAR

1: First Chinese Oil Tanker Attacked in Strait of Hormuz as Iran-U.S. Conflict Escalates

2: Cover Story: AI Drives Markets as Valuations Race Ahead of Earnings

3: China’s Rural Migrant Workers Age as Shift to Services Weighs on Pay

4: Analysis: How Some Chinese Banks Ended Up in a Property Purgatory

5: ByteDance Plans Subscriptions for AI Chatbot Doubao

SPONSORED

OR