[HONG KONG] Hong Kong’s debt-laden developers and their creditors are set to face intensifying financial pressure as bond maturities are slated to jump by nearly 70 per cent next year amid falling sales and valuations for the city’s economically crucial property sector. Read more at The Business Times.

cross-posted from: https://lemmy.sdf.org/post/40704568

Hong Kong’s debt-laden developers and their creditors are set to face intensifying financial pressure as bond maturities are slated to jump by nearly 70 per cent next year amid falling sales and valuations for the city’s economically crucial property sector.

[…]

Property and its related sectors account for roughly a quarter of Hong Kong’s GDP, and the industry’s rising non-repayments will not only weigh on its economic prospects but also cast a cloud over creditors, including HSBC, with sizeable exposure to developers in the Asian financial hub.

Local property developers’ bond maturities will climb to US$7.1 billion in 2026 from US$4.2 billion this year, according to LSEG data and Reuters calculations.

[…]

  • NateNate60@lemmy.world
    1·
    9 个月前

    Not surprised. The Government basically scared all the businesses away when they came down hard again and again against democracy protestors. Why set up shop in Hong Kong, where the Government has shown its willingness to use the courts and the law against anyone for any or no reason, when you could instead choose Singapore, Tokyo, or Seoul, which are located in politically stable democracies with courts that apply the law and governments which respect the people?