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

Thin Christmas trading on Asian stock exchanges
1 MIN READ

Thin Christmas trading on Asian stock exchanges

Biden can stop major steel deal
1 MIN READ

Biden can stop major steel deal

Upwards in Christmas Sales on Wall Street
1 MIN READ

Upwards in Christmas Sales on Wall Street

Northvolt owners summoned to meeting about the future
2 MIN READ

Northvolt owners summoned to meeting about the future

The Stock Market Started the Christmas Week Slightly Downward
1 MIN READ

The Stock Market Started the Christmas Week Slightly Downward

Crisis in the Russian Economy – Butter is Stolen
2 MIN READ

Crisis in the Russian Economy – Butter is Stolen

The Russian gas tap can be turned off – prices are rising
2 MIN READ

The Russian gas tap can be turned off – prices are rising

Multiple Sentenced for Extortion Against Stock Exchange CEO
3 MIN READ

Multiple Sentenced for Extortion Against Stock Exchange CEO

Saab lands new order – share price surges
1 MIN READ

Saab lands new order – share price surges

Novo Nordisk up nearly 6 percent after price slump
1 MIN READ

Novo Nordisk up nearly 6 percent after price slump

Nissan and Honda confirm merger plan
2 MIN READ

Nissan and Honda confirm merger plan

The Stock Market Starts the Christmas Week Slightly Downwards
2 MIN READ

The Stock Market Starts the Christmas Week Slightly Downwards

Setback for Chinese Electric Cars in the EU
1 MIN READ

Setback for Chinese Electric Cars in the EU

SBB Dissolves Jointly Owned Companies
1 MIN READ

SBB Dissolves Jointly Owned Companies

Despite the cost increase – fewer housing allowances
1 MIN READ

Despite the cost increase – fewer housing allowances

Ongoing Heavy Challenges in Retail
1 MIN READ

Ongoing Heavy Challenges in Retail

Thedéen: Crisis is a normal state
3 MIN READ

Thedéen: Crisis is a normal state

Upwards on Asian Exchanges
1 MIN READ

Upwards on Asian Exchanges

Private employment agencies to receive lower compensation
1 MIN READ

Private employment agencies to receive lower compensation

How to get started with your savings
2 MIN READ

How to get started with your savings