Fitch Rating’s Janice Chong discusses the parts of the Chinese economy that are most likely to rebound as the country reopens and addresses the impact on its property market.
The significance of private Chinese property developers on the global real estate scene will continue to dwindle in the next few years, as they are overshadowed by their state-owned counterparts. Rating agencies and analysts note the rapid decline of offshore dollar bond issuance by Chinese property participants.
The restructuring prospects for one of China’s largest property developers coincide with Beijing’s “common prosperity” initiative, highlighting the challenge policymakers face to lift social harmony without derailing the economy.
It’s hard to ignore Chinese property in high-yield space, AllianceBernstein’s Gibson says, while Lianhe's Stan Ho explains how local rating agencies are different.