SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

China's Real Estate Crisis Continues

The property crisis in China persists. The authorities have ordered all lenders to report on the extent of their exposure to the property developer China Vanke, the country's fourth largest in terms of sales.

» Published: 23 December 2024

China's Real Estate Crisis Continues
Photo: Heiko Junge/NTB Scanpix/TT

The purpose is to assess how much government support the company may need to avoid being forced to stop making payments.

Another company – the Hong Kong-based New World Development – is negotiating to defer payment of certain loans.

The crisis in China has knocked out a number of players. The most well-known is the property developer Evergrande, which has had acute problems since 2021 and is now in liquidation.

In January this year, the company's debts were estimated to be equivalent to approximately 3,600 billion kronor.

2022 was a particularly tough year on the Chinese property market, but it has been slightly less bloody since then after the authorities implemented enormous support measures.

The new warning signs can fuel the market's fear that the crisis will spread internationally.

Although the latest measures by the government have slowed down the decline, it may take another year or two before the sector has hit rock bottom, says Leonard Law, analyst at the credit analysis firm Lucror Analytics.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Dousa on the Tariff Threat: We Have a Few Cards to Play
1 MIN READ

Dousa on the Tariff Threat: We Have a Few Cards to Play

Trump: Tariffs will be felt
1 MIN READ

Trump: Tariffs will be felt

Elon Musk sues Lego for X boycott
1 MIN READ

Elon Musk sues Lego for X boycott

The warning: Beware of unknown pension shocks
3 MIN READ

The warning: Beware of unknown pension shocks

Stress highest when working remotely
3 MIN READ

Stress highest when working remotely

The Neighbors and China Give a Tough Response to Trump's Tariffs
2 MIN READ

The Neighbors and China Give a Tough Response to Trump's Tariffs

Trump has signed a decision on tariffs
1 MIN READ

Trump has signed a decision on tariffs

So Sweden can be hit by Trump's tariffs
3 MIN READ

So Sweden can be hit by Trump's tariffs

Tariffs to wait for after Trump's tariffs
2 MIN READ

Tariffs to wait for after Trump's tariffs

After the Wave of Violence – Anxiety Among Many Entrepreneurs
2 MIN READ

After the Wave of Violence – Anxiety Among Many Entrepreneurs

Now Trump imposes tariffs - EU may be next in line
2 MIN READ

Now Trump imposes tariffs - EU may be next in line

Altman on OpenAI: "On the wrong side of history"
1 MIN READ

Altman on OpenAI: "On the wrong side of history"

Down on Wall Street - but up in January
1 MIN READ

Down on Wall Street - but up in January

Trump threatens with tariffs on oil and chips
3 MIN READ

Trump threatens with tariffs on oil and chips

Google ends criticized news experiment
2 MIN READ

Google ends criticized news experiment

USA inflation stays put
1 MIN READ

USA inflation stays put

German Inflation Falls Unexpectedly
1 MIN READ

German Inflation Falls Unexpectedly

Coordinator: Establish a State Nuclear Power Company
1 MIN READ

Coordinator: Establish a State Nuclear Power Company

The State Sells Lernia
1 MIN READ

The State Sells Lernia

Japan is forced to tap into its reserves
1 MIN READ

Japan is forced to tap into its reserves