Fitch said weaker new home sales will weigh on developers' land replenishment. The ratings agency expects nationwide residential property sales to fall 10%-15% in 2022.

More disclosures are expected during the upcoming earnings season, putting pressure on Chinese authorities to do more to limit contagion

Los Angeles-based Oaktree moved this week to seize control of the asset, known as Project Castle, after Evergrande defaulted on a loan

Evergrande shares slumped on Thursday after the developer's thinly detailed restructuring plan left investors dissatisfied, while its indebted peers also fell on concern over higher interest rates

Executives said they hoped to achieve a risk management solution and would treat all creditors "fairly and follow international practice"

China Resources Land secured $3.64 billion in credit for real estate acquisitions on Wednesday, and other state developers completed bond sales worth 2.29bn yuan for the same purpose.

Evergrande's debt crisis has roiled other developers and global financial markets, contributing to a sharp slump in China's property market

Chinese state-owned property firms are expected to acquire more assets from cash-strapped private developers, as Beijing steps up efforts to stabilise and tighten control over crisis-hit sector

Shimao, which held a 26.7% stake in Guangzhou Asian Games City, said it sold its holdings to JV partner COLI for $290.65 million

Domestic and global fund managers are eyeing a buy-up of dollar bonds issued by Chinese developers that were beaten down by Beijing's campaign to cut debt in the sector

China's real estate sector will likely see "significant easing" in the policies that govern it, BNP Paribas Asset Management said, months after starting to build a long position in the sector's debt.

Developer said on Sunday it would appoint two new board members, including Liang Senlin, chairman of China Cinda (HK) Holdings, a unit of one of the country's four state asset managers