Chinese developer Sunac defaults as Beijing struggles to save the trillion-dollar sector - ABC News

China's third-largest developer, Sunac, is the latest to default on some of its bonds, despite a "relatively healthy" financial situation and a chairman who has previously been willing to repay debts with his own money.

About a year ago, Chinese billionaire Sun Hongbin was certain that his luxury real estate company Sunac China would never "bomb". Last week, his firm  China's third-largest developer  defaulted, mis… [+5700 chars]

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