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Evergrande’s deepening crisis weighs heavily on major Chinese developers’ sales in September

Summary:
[unable to retrieve full-text content]Major Chinese developers saw their sales plunge last month as China Evergrande Group sank deeper into crisis, putting more pressure on the government to limit the fallout.Combined contracted sales by the country’s top 100 real estate companies plummeted 36 per cent to 759.6 billion yuan (US8 billion) in September from a year earlier, deepening a downward spiral emerging in July, China Real Estate Information Corp (CRIC) said in a report. More than 90 developers saw a decline in their sales…

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[unable to retrieve full-text content]
Major Chinese developers saw their sales plunge last month as China Evergrande Group sank deeper into crisis, putting more pressure on the government to limit the fallout.Combined contracted sales by the country’s top 100 real estate companies plummeted 36 per cent to 759.6 billion yuan (US$118 billion) in September from a year earlier, deepening a downward spiral emerging in July, China Real Estate Information Corp (CRIC) said in a report. More than 90 developers saw a decline in their sales…

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