Hong Kong — Pain is spreading in the Chinese junk bond market. According to Goldman Sachs, real estate developers dominate China’s international high-yield bond market, accounting for about 80% of total outstanding debt of $ 197 billion. After the real estate giant China Ever Grande Group EGRNF, the market has already endured the worst sales in 10 years. Photo:The Wall Street Journal Raul ArianoSince then, at least four other Chinese developers have defaulted or have asked investors to wait more for repayment. Although real estate bond prices have been somewhat stable these days, many are still in dire straits.

Source: Wall Street Journal October 31, 2021 19:17 UTC