Evergrande turmoil forces Chinese developers to prove strength

Property companies announce capital injections and bond redemptions

20210921 China property

Shares of Chinese property companies rebounded on Tuesday after falling steeply the previous day.  © AP

KENJI KAWASE, Nikkei Asia chief business news correspondent

HONG KONG -- Chinese property companies are scrambling to demonstrate their financial strength in the wake of market turmoil over the troubles of leading developer China Evergrande Group.

In a flurry of exchange announcements beginning Monday evening, a string of small and midsize property companies announced new capital injections or redemptions of outstanding bonds, helping to calm Hong Kong's unsettled stock market.

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