Shares of embattled property developer China Evergrande Group were suspended from trading on Monday, ahead of a major repayment due on Wednesday

The China Securities Regulatory Commission said the scope of the REIT pilot program should be expanded

The China property giant, facing more than $300 billion in liabilities, has so far managed to avoid a technical onshore bond default

The country's vast property sector has slumped for months as Beijing's campaign to reduce high debt levels triggered a liquidity crisis at some major property developers

Goldman Sachs estimates the default rate at nearly a quarter of outstanding bonds this year rather than the 5.5% that's been reported.

The Hang Seng Mainland Properties Index surged almost 18% after the Ministry of Finance said it is the wrong time to expand property tax trials.

The magnitude 7.4 quake revived memories of the March 11, 2011 quake and tsunami off Fukushima - commemorated across the country less than a week ago

China Construction Bank, the underwriter, said in a statement on Wednesday Yango did not pay the principal and interest in full on the due date

Implementation of a property tax involves challenges, including macroeconomic pressures, according to analysts

Earlier this week, the parties had informed the apex court that talks for an amicable settlement of the dispute had made no headway

The country's third-largest property developer by sales previously said it had prepared sufficient funding to repurchase the bond

The use of government-backed credit support rather than the purchase of fire-sale assets is becoming the preferred policy option for reducing risk in Chinese real estate sector