In a proposal to bondholders, Hong Kong-listed Powerlong aims to pay 5% of principal on the due date of the bonds, 15% after six months, and the final 80% after 12 months, sources said.

China Evergrande Group is checking to see if offshore creditors will back its plan to fight a lawsuit in Hong Kong aimed at liquidating the group, a source says

The struggling real estate firm blamed "market uncertainties over debt refinancing” for being unable to repay its creditors in time

New home prices in 100 cities rose 0.04%, up from a 0.03% gain in May, according to data from China Index Academy, one of the country's largest independent real estate research firms

The food-for-homes trade has expanded from wheat and garlic to watermelons and peaches, as developers in some small cities reduce the cash amount that buyers need

The real estate company completed a one-year maturity extension on $500 million in senior unsecured notes, prompting S&P to regrade it one notch higher to "CCC".

Yu Liang's comments helped to drive up the CSI Real Estate Index 6%, while Hong Kong's Hang Seng Mainland Properties Index rose more than 1%

Evergrande confirmed lawsuit by Top Shine Global in Hong Kong, for not fulfilling a financial obligation of $110 million, but insisted that the move would not effect its restructuring.

Efforts to revive the sector, which could account for up to 30% of GDP, with lower mortgage rates, easier credit, subsidies and relaxed regulations have not worked yet, a report says

Wheat and garlic are being accepted as property down-payments as desperate China developers scramble to boost sales after a plunge in sales from January to May.

Ratings agency S&P Global downgraded Greenland to "selective default" on Wednesday after the state-backed property developer extended the maturity of $488 million in bonds

Prospects of a surge in take-private deals come against the backdrop of the industry's damage from the Covid pandemic and its disruption to travel and tourism