MARKETS
A Chinese Developer’s Pile of Overdue Loans Raises Fears It’s Just the Beginning
Zhonghong’s mounting defaults are seen as a bellwether of emerging problems in the real-estate sector that could ripple across the banking system
Zhonghong Holding, whose owner bought a stake in SeaWorld, disclosed in a regulatory filing Monday that it defaulted on more than 1.1 billion yuan in borrowings. Photo: John Raoux/Associated Press
By Dominique Fong
April 26, 2018 6:34 a.m. ET
7 COMMENTS
BEIJING—A Chinese property developer whose owner bought a stake in SeaWorld Entertainment Inc. is piling up overdue loans worth hundreds of millions of dollars, as a government campaign to control debt starts to squeeze China’s property sector.
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READ MORE: https://www.wsj.com/articles/a-chinese-developers-pile-of-overdue-loans-raises-fears-its-just-the-beginning-1524738882
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