China Fortune Land Development Co. Ltd. and its subsidiaries have defaulted on billions of yuan in debt as the property developer has struggled to scrape together cash amid a tightening regulatory environment.
Developer China Fortune Defaults on 5.3 Billion Yuan in Debt
2021年02月02日 20:21
来源于
财新网
Company says it couldn’t come up with the cash to make the payments, but had reached a consensus with some creditors about a delay
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- Cash-strapped property developer China Fortune said it couldn’t come up with the cash to make its debt payments due to the current economic and industry conditions coupled with the impact of the Covid-19 epidemic. Photo: VCG
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