China pushes on a string as property goes bust

Wednesday, 30 March 2022

There’s no stopping the property adjustment:

China’s major property developers saw market sell-offs on Tuesday after several firms said they may not be able to publish their annual earnings results for 2021 as required by the end of March.

Sunac China, the country’s third-largest property developer, saw its shares tumble by as much as 20% in Hong Kong after the company said late Monday that it would delay publishing its 2021 earnings results and suspend share trading from April 1.

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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.