Funds shun Chinese developers as bond sales slumped in January amid defaults

Investors seem to have lost their appetite for bonds issued by Chinese developers while rising defaults by an increasing number of cash-strapped companies have pushed the cost of funding for the sector to more than a decade high.Chinese real estate companies issued 48.1 billion yuan (US$7.6 billion) worth of bonds in January in both local and foreign currencies, according to Beike Research Institute (BRI), a research arm of KE Holdings, China’s biggest online property broker. That is a 70 per…

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