A Shanghai Shimao Co bond that matures in January 2022 rose 11.7%, making it the top gainer on Shanghai Stock Exchange's corporate bond market

Chinese banks could see their ratio of non-performing property loans more than double by the end of the year, S&P Global Ratings said

Officials are steering a risk management committee at the group but there are signs Evergrande's debt crisis is more complicated than expected

Buying onshore debt, which is usually more senior than offshore debt, would give holders stronger influence in restructuring talks and help offshore bondholders better grasp the group's situation

New construction starts measured by floor area fell 9.1% during January-November from a year earlier, compared with a 7.7% decline in the first 10 months of the year

Tighter policies for developers and a liquidity crunch in the property sector hurt demand, official data showed

In Hong Kong, where housing is scarce and property is deemed the most critical of investments, the interest around digital land sales is reaching a fever pitch

Hui Ka Yan's holding in the embattled Evergrande Group has dropped from 61.88%, Hong Kong stock exchange filings showed, in a forced selling by a third party with whom the shares were pledged

Real estate sector has slowed sharply this year with sentiment shaken by tighter regulations and a liquidity crisis that engulfed the largest and most debt-laden developers

The China Evergrande debt crisis deepened Thursday as Fitch declared the property giant in default. It must make another 14 bond coupon payments worth almost $1 billion within five months.

Officials working on Evergrande's debt restructuring are expected to prioritise social stability, which means homebuyers, suppliers and employees are likely to be favoured ahead of foreign investors

The risk of a "Volcker moment" in China is still on with the worst yet to come for its property sector and growth set to plunge to 2.9% in the first quarter of 2022, says Nomura Holdings.