From The Economist today:
China’s property-debt crisis escalated as shares of Kaisa Group, a property developer, were suspended on Hong Kong’s stock exchange after one of its units missed a payment on a wealth-management product. After Evergrande, Kaisa has the heaviest offshore debt burden in China’s property sector. Reuters reported that Kaisa plans to sell assets worth $13bn by the end of 2022 to stay afloat.
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