Brokerage J.P.Morgan warned on Monday an estimated 2.8 trillion yuan worth of assets under the management of Chinese real estate investment trusts face higher risk following the debt payment delays by Country Garden.
Country Garden, China's largest private developer, is seeking to delay payment on a private onshore bond for the first time after suspending trading in 11 onshore bonds. Trusts may have to use their own profits to bail out existing investors if they fail to honor payments on issued products, Lei and team warned.
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Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
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