Shares of Sunac rose on news of debt deal approval, then sank after its move to seek bankruptcy protection in the US. Country Garden also won backing for an extension of repayments for an 8th onshore bond

Citic Trust and CCB Trust will examine Zhongrong's current operations and help the firm come up with a repayment plan, but there are serious doubts on how much money investors will get back

Shares of China Evergrande plunged after trading opened on Monday, after the arrest of staff of its wealth management unit, while Country Garden also fell as it faces a new repayment deadline

Police revealed a financial crimes investigation into the Shenzhen unit was ongoing and appealed to investors to come forward

Official data on Friday showed industrial output rose by 4.5% in August, while retail sales were up by a similar amount, but analysts say serious property easing is needed to deliver a real recovery

The ratings agency fears Beijing’s support measures won’t be enough to turn around the fortunes of the country’s real estate giants

Chinese creditors voted on Monday for proposals to extend repayments on eight onshore bonds worth $1.48 billion by three years. Six were approved, while two were delayed, sources said

Speaking after talks with Chinese Premier Li Qiang at the G20 in Delhi, Biden said President Xi "has his hands full" because of China's economic "crisis"

The announcements come on the heels of a series of nationwide support measures announced by Beijing for the property sector

The developer averted a catastrophic default this week at the very last minute but its offshore creditors warn there will have to be a debt restructure soon

Payments of $22.5 million were wired before the end of a 30-day grace period, according to a source close to the company. But a further $162m is due this year on offshore bonds

Many analysts see a drift toward Japan-style stagnation, but there is also the risk of a crisis sparked by a spillover of debt from the property sector or local government