Why Won’t They Cover the Massive ‘Hidden’ Debt Crisis in 2023?

Chinese Builder Halts All Offshore Debt Payment on Property Market Weakness. A Hong Kong-listed Chinese real estate developer said it will suspend all offshore debt payments, citing weakness in the country’s property market, deteriorating sales and constrained liquidity. “After careful consideration, the company will suspend payments to all offshore creditors to ensure fair treatment among all offshore creditors,” Central China Real Estate Ltd. said after it wasn’t able to pay the interest on its 7.75% senior notes due 2024 at the end of a grace period on Friday.

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