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“The pricing of bonds needs to be greatly adjusted. Without a new trading method, the price of bonds may fall sharply and fluctuates. Many companies would adjust the trading mechanism for their bonds due to default risks. Should the developer default on its debts, there will be adverse effects across the financial sector, with possible spillover effects on the financial system and on other real estate companies. Creditors who provide funds to Evergrande, mostly some small and medium-sized banks, will face great asset losses and risk of cross-defaults. It will also be difficult for other real estate enterprises to raise funds due to the default concern.”
16 Sep 2021
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