Defaults pile up in Chinese property

Friday 18 February 2022

The relentless pounding of Chinese developers continues. Dollar spreads are headed toward new wides:

And is it any wonder? The defaults continue to pile up:

Yango Group Fails to Pay Interest for Two Dollar Bonds (7:02 p.m. HK)

Yango Group Co. Ltd missed interest payments of a combined $27.3 million for its two dollar bonds, listed on the Singapore Exchange, within a 30-day grace period, according to a Shenzhen stock exchange filing.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.