Many property companies default on commercial paper repayments amid liquidity crunch

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A number of Chinese real estate companies have repeatedly defaulted on commercial paper payments amid a sector-wide liquidity crunch and that has made it difficult for some suppliers and construction companies to maintain normal operations

A total of 484 companies were overdue on at least three commercial paper payments during the period of August 1 - December 31, according to a list released by the Shanghai Commercial Paper Exchange.

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