China Asks State-Owned Developers to Avoid Public Debt Defaults - Bloomberg


China's government mandates state-owned developers to prevent public debt defaults to mitigate the ongoing property market crisis.
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China has introduced a requirement for state-owned developers to avoid defaulting on publicly issued debt, in the latest attempt by authorities to contain the nationโ€™s prolonged property crisis.

The State-owned Assets Supervision and Administration Commission added the directive to its latest performance metrics for about 20 developers that are controlled by the central government, people with knowledge of the matter said, asking not to be identified discussing a private matter.

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