Chinese Property Crisis Deepens As Shimao Group Shares Plummet ~ 15 Dec 2021

Chinese property crisis deepens as Shimao Group shares plummet

House price, sales and investment data
released Wednesday shows China’s massive property market
is still spiralling downwards just a day after fears
of another developer offloading assets to fund repayments emerged.

House prices fell across the country by 0.3%
month-on-month in November 2021 - worse than 2021 October’s 0.2% drop
- while actual property sale values plummeted 16.31%
in a fifth consecutive monthly drop.

Shimao Group share prices dropped 20% Tuesday.

Meanwhile, a govt task force has arrived at Evergrande HQ
to begin carving up the defaulted giant as its shares dropped another 10%.

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