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China debt crunch

Chinese property developer Fantasia fails to repay bond

S&P declares company in default amid worries about Evergrande

HONG KONG -- Chinese property developer Fantasia Holdings Group has failed to repay a maturing bond and a loan in the latest sign of distress among the country's real estate companies.

Like bigger rival China Evergrande Group, Fantasia is based in Shenzhen and has been grappling with excessive debt amid a credit crunch.

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