Another Chinese Property Developer Misses Interest Payment As Debt Crisis Deepens

Money Tips Daily by Charles Kelly, former IFA and author of

The property market crisis in China is growing, as another property developer failed to make a payment on a bond. Modern Land followed Evergrande and Fantasia by missing a bond payment indicating that China’s property crisis is deepening. Earlier this month, Fantasia Holdings Group defaulted on a maturing dollar bond that heightened concerns in international debt markets, Evergrande averted a costly default last week but is under more than $300 million in liabilities and has a major payment deadline on Friday.

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