In some cases, companies are paying up to five times what they paid a few months ago when the workers could fly in via quarantine-free vaccinated travel lanes

When Guangdong province took de facto control of China Evergrande on December 3, it sparked a battle for the developer's assets.

A study of China property developers shows close to a third would face liquidity strain under a 'severe' scenario involving a 30% decline in residential home sales revenue in 2022

Chinese property developer said it also did not pay a coupon totalling $105 million for notes due in 2023, 2025, and 2026, with the grace period for the first two already expired

People's Bank of China and China Banking and Insurance Regulatory Commission recently issued a notice to financial institutions, urging them to strengthen support for such acquisitions

The one-year loan prime rate (LPR) was lowered by 5 basis points to 3.80% from 3.85% previously, while the five-year LPR remained at 4.65%

Failure to make payments, followed by a string of credit rating downgrades of indebted developers, has roiled China's high-yield debt

The property crisis has started to ripple through to other critical parts of the world's second-largest economy

The massively indebted developer China Evergrande and its offshore financing arm Tianji were declared on Friday to be in "selective default" by S&P Global Ratings

In November the value of land sales nationwide sank 9.9% from a year earlier, although that was less than the 13% annual decline in October, based on finance ministry data

Chinese developer saw sharp falls in its shares and debt earlier this month, triggered by worries over an asset sale and cancelled apartment deals

Over 360 domestic claimants have sued Evergrande for $13bn they are allegedly owed, in a bid to secure payment ahead of offshore bondholders