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China debt crunch

Angry Evergrande suppliers join China 'mortgage strike' protest

Companies threaten to stop paying bank loans over developer's unpaid bills

The Royals Garden on the outskirts of Shanghai is among hundreds of unfinished property developments across China. (Photo by CK Tan)

SHANGHAI -- A group of angry suppliers to China Evergrande Group are threatening to stop paying their bank loans to protest the struggling developer's unpaid bills, hitting a property sector already reeling from a mortgage-payment boycott.

China has seen a wave of debt defaults among real-estate developers including Evergrande, which is saddled with about $300 billion in liabilities. Those huge debt loads and financing problems have led to scores of housing projects going unfinished, sometimes for years, triggering widespread anger among buyers who are typically required to pay the full cost of their homes in advance.

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