South China Morning Post: China’s property crisis: who and what will save the indebted developers in the world’s largest real-estate market?

  • Sunac, which forked out 43.8 billion yuan in 2017 to help Wanda, defaulted on a US dollar bond last week, and had its rating cut twice by Fitch, deep into junk status
  • R&F, which bought 77 Wanda hotels for 19.9 billion yuan in 2017, had to sell its London asset at a 42 per cent discount

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Illustration by Perry Tse

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