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China debt crunch

Developer Sunac China admits default on $750m bond

Chairman offers 'sincere apologies' while warning it could miss more debt deadlines

Sunac China missed $104.73 million in interest coupon payments on four offshore bonds last month.   © AP
KENJI KAWASE, Nikkei Asia chief business news correspondent | China

HONG KONG -- Sunac China Holdings, one of the country's largest developers, acknowledged on Thursday that it had defaulted on a $750 million bond.

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