HONG KONG -- Tens of thousands of Chinese homebuyers are threatening to stop paying mortgages on scores of unfinished housing projects, raising "huge risks" for banks and the country's debt-saddled property developers.
China's real estate sector is grappling with a crisis that has seen developers squeezed by eye-watering levels of debt, sparking a string of bond defaults among major groups including Shimao and China Evergrande -- the world's most indebted developer with about $300 billion in liabilities.
