Investors are pricing in almost $130bn in losses on Chinese property developers’ dollar debt on mounting worries the country's housing market will face a protracted crisis unless Beijing steps in with a large-scale bailout.
Two-thirds of the more than 500 outstanding dollar bonds issued by Chinese developers are now priced below 70 cents on the dollar, a common threshold for distressed status, according to a Financial Times analysis of Bloomberg data.
The rising pressure on the market comes a year after Evergrande, the world’s most indebted developer, began spiralling into default, unleashing tumult throughout a sector responsible for roughly 30 per cent of the country’s annual economic output.
您已閱讀10%（701字），剩餘90%（6667字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。