China real estate crisis batters state developers seen as better off

HONG KONG -- China's state-owned developers are demonstrating signs of stress as the country's property crisis shows no sign of abating.

While the magnitude of their troubles is not on the scale of distressed private peers like China Evergrande Group and Country Garden Holdings -- which on Friday further delayed reporting its 2023 results -- the latest earnings underscore that even large state players are not immune.