Once China’s largest real estate company, Evergrande has entered into a restructuring agreement with a group of international creditors, in what could be a breakthrough deal towards easing the developer’s massive debt. – EPA pic, April 23, 2023.
PUMMELLED by a housing crisis that caused a record-breaking slump last year, some Chinese property developers are starting to see light at the end of the tunnel, but analysts warn the sector is still on course to slow down in the long term. The real estate industry grew at lightning speed after restrictions were eased in 1998 across China, a country where buying a home is a common prerequisite for marriage, as well as an investment.
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