Sunac China shares, bonds sink after liquidation petition filed against developer

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The story "Sunac China shares, bonds sink after liquidation petition filed against developer" was covered 4 hours ago by Channel News Asia, a news publisher based in Singapore.

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Sunac China shares, bonds sink after liquidation petition filed against developer - Channel News Asia

Quick Summary:

HONG KONG: Sunac China shares and bonds plunged on Friday (Jan 10) after a liquidation petition was filed against the property developer, adding to concerns over its business recovery and repayment ability despite an offshore debt restructuring in 2023.

Beijing has rolled out a raft of measures over the past year to revive the country's economically crucial property sector, but the measures have had little impact on homebuyer confidence in the world's second-largest economy.

FILE PHOTO: The logo of property developer Sunac is seen outside a residential compound in Beijing, China September 19, 2023.