Zhejiang Xingrun Real Estate Co., a property developer based in a small city south of Shanghai, is unable to repay almost $400 million worth of bank loans, a person at the local government financial affairs office said Tuesday.
More at: Chinese Property Developer Zhejiang Xingrun Defaults on Bank Loans
(The Wall Street Journal is often gated, so if you’re unable to access the article try a search of Google news using the headline)
–
Earlier report, from Bloomberg (not gated): China Developer With $567 Million Debt Said to Collapse
