CIFI's shares plunged over 32%. Investors were shaken by the sector crisis reaching CIFI, one analyst said, as it was considered one of China's few resilient private developers.

Evergrande has "introduced" Shenzhen Longgang Ancheng Investment Operation to four developments in Longgang district, to help ensure delivery of homes to buyers

Covid restrictions have disrupted China's supply chains, industrial and services production, domestic sales and exports, the World Bank said

Struggling Beijing developer Sunac is moving to delay repayment for a 4-billion-yuan ($558m) bond for a third time by pushing the deadline back by six months, sources said

The buyers come from a group who have moved into "rotting" apartments out of financial necessity and to pressure developers and local authorities to complete them

The state-owned lender said in a statement late on Friday that it plans to invest in real estate projects and turn them into affordable rental houses.

The decision came after Hong Kong banks raised their best lending rate by 12.5 basis points on Thursday

Developers that have already missed debt repayments may not qualify for the programme, industry sources said to Caixin Global.

The rumoured move comes after loans secured by Evergrande Property Services were diverted to the parent group

The offshore bondholder group, which is represented by Lazard advisory group, made the offer to buy Kaisa's stalled projects to the developer's advisor CITIC Securities, sources said

The listing by property services arm Onewo Space-Tech Service aims to raise up to $783 million in a deal that will be a key test for investor appetite

With a lack of building at many sites or clear guidance from local officials, China's mortgage boycott has spread to 342 unfinished projects.