Fresh Moody's downgrade of Shimao's rating also hits investor confidence, highlighting the debt travails bedevilling some bloated developers

Pledge comes after a series of regulations aimed at reining in debt in the sector unsettled buyers and prompted a marked slowdown in the property sector

Residents need a vaccine record to access venues including supermarkets, malls and restaurants and must wear masks for all outdoor exercise

China also approved 74 million tonnes of replacement coal-based steel production capacity last year, more than the whole of the rest of the world

The deal comes after the UAE's threat in December 2021 to scrap a purchase of US F-35 fighter jets as it protested against stringent conditions

The company, which made $500 million in Asia-Pacific, has stated a goal of improving its performance in China and the rest of the region

The city registered 105 confirmed coronavirus cases and 28 asymptomatic cases since new infections were first reported on February 13

The "diagrid" format reduces the building’s interior solar gain while responsive solar shading technology protects the interior from sunlight

Shanghai plant production jumped 235% to over 480,000 vehicles in 2021, with one-third going to export markets

Shimao defaulted on a trust loan last month and has been scrambling to extend debt maturities including asset-backed securities and trust loans with creditors

More than 53,000 cases were reported in the city of 7.5 million people since this latest wave of infections began in January, according to official data

But the top foreign policy adviser to Yoon Suk-yeol said Beijing's ire would provide a chance to "reset" testy diplomatic ties between the countries