HONG KONG -- Signs of distress among debt-strapped Chinese property developers rose further on Monday despite efforts by the country's top financial regulators to ease concerns.
Sunshine 100 China Holdings, a mid-sized developer based in Beijing, declared on Monday morning that it had defaulted on a $170 million dollar bond. Late in the day, S&P Global Ratings declared Guangzhou-based builder China Aoyuan Group in "selective default" after its disclosure last week that it had failed to pay $651.2 million in borrowings.
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