‘Golden days are over’: China’s property tycoons suffer $90b meltdown - Sydney Morning Herald

Property used to be a sure bet in China. But Beijing’s year-long campaign to control runaway prices has pummelled its biggest developers.

Developers were emboldened to take on debt, turning to vast pools of money outside of mainland China. Global investors hungry for higher returns snapped up high-yield bonds. Annual sales of such note… [+3935 chars]

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