April 19, 2024

Columbus Post

Complete News World

Chinese real estate company Modern Land is outstanding

Modern Land, a small competitor of struggling real estate firm China Evergrande, did not pay interest on the bond and justified this by an unexpected cash crunch.

Investors fear a crisis across the entire Chinese real estate market. The industrial index CSI300 real estate fell 2.6 percent, while the real estate index in Hong Kong fell five percent.

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