Chinese developer Aoyuan files for U.S. bankruptcy protection

Troubled company follows in footsteps of Evergrande and Sunac

An office building owned by China Aoyuan Group is under construction in Hong Kong. © Reuters

NORIYUKI DOI and KENJI KAWASE, Nikkei staff writers

December 22, 2023 01:36 JST

SHANGHAI/HONG KONG -- Property developer China Aoyuan Group has filed for Chapter 15 bankruptcy protection in a U.S. court, looking to ward off litigation as the company restructures its debts.

Aoyuan joins a growing list of Chinese real estate developers that have applied for bankruptcy protection in the U.S., including China Evergrande Group and Sunac China Holdings.