China debt crunch

Developer Sunac China admits default on $750m bond

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

KENJI KAWASE, Nikkei Asia chief business news correspondent
May 12, 2022 13:47 JST
Updated on May 12, 2022 18:22 JST

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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