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China debt crunch

Chinese developer Modern Land fails to repay $250m bond

Company latest in China to miss payments as Evergrande crisis spreads

Modern Land China has failed to pay interest and principal on a $250 million bond, the developer revealed. (Screenshot from Modern Land's website) 
NARAYANAN SOMASUNDARAM, Nikkei Asia regional finance editor | China

HONG KONG -- Modern Land China has become the latest developer from Asia's largest economy to miss a dollar bond payment, underscoring the stress spreading across the sector.

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