Evergrande payment period extends amid fears of pollution | Business and Economics

China’s Evergrande Group’s uncertainty ahead of Wednesday’s deadline to pay offshore bond coupons will exacerbate concerns about a deepening liquidity crisis in the Chinese goods sector.

Evergrande, the world’s luckiest developer, has stumbled in recent weeks with more than $ 300 billion in liabilities in recent weeks, including $ 19 billion in international market bonds.

Another $ 148 million bond payment is due on Wednesday, and includes more than $ 255 million in coupon payments in June 2023 and December 28, 2025 bonds.

Beijing has encouraged government-owned companies and state-sponsored real estate developers to buy some of Evergrande’s assets in an attempt to control the decline.

Concerns about Evergrande’s potential downturn shook China’s real estate sector on Tuesday, hitting real estate companies ’bonds amid concerns that the crisis could spread to other markets.

The fall in bond prices warned the U.S. Federal Reserve that China’s troubled goods sector could pose a global risk and came within hours.

China’s real estate problems shook global markets in September and October. There was a short break in mid-October after Beijing tried to calm markets that the crisis would not get out of control, but concerns have resurfaced.