Chinese property developers Shimao, Guangzhou R&F see more troubles

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A unit of Chinese property developer Shimao Group has defaulted on a trust loan with 645 million yuan of overdue payment, China Credit Trust Co said in a letter to investors in the loan.

China Credit Trust demanded early repayment on the product after Shanghai Shimao Construction failed to meet instalment requirements, according to the letter.

It added that 755 million . . .

 

 

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