MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

MNI: CANADIAN NOV BUILDING PERMITS -5.9% MOM

US DEC UNEMPLOYMENT RATE 4.086%

MNI: US DEC NONFARM PAYROLLS +256K; PRIVATE +223K, GOVT +33K

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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EQUITIES: China Property Stocks Struggle To Start The Year

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Chinese property developers are grappling with mounting debt and liquidation petitions as the real estate crisis extends into its fifth year, with minimal recovery despite Beijing's efforts to stabilize the market. Major firms like Sunac, Country Garden, and China Vanke face significant debt repayments and restructuring challenges, while housing sales among top builders plunged 28.1% in 2024. Analysts warn that struggling developers will remain the primary source of defaults in Asia this year

  • Sunac China shares fall as much as 30% in Hong Kong, the most since Oct. 8, after the defaulted builder received a liquidation petition.
  • China Vanke says a unit has been granted a 1.08b yuan loan from Shanghai Pudong Development Bank for 30 years
  • The Bloomberg China Property Developer is 4.11% lower today, and down 12% already for the year with Sunac the worst performing stock, down 44% this year.
  • Major Property Benchmarks: Mainland Property Index is flat today, however 4.3% lower this year, HS Property Index is also flat today however trades 3.4% lower for the year.
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Chinese property developers are grappling with mounting debt and liquidation petitions as the real estate crisis extends into its fifth year, with minimal recovery despite Beijing's efforts to stabilize the market. Major firms like Sunac, Country Garden, and China Vanke face significant debt repayments and restructuring challenges, while housing sales among top builders plunged 28.1% in 2024. Analysts warn that struggling developers will remain the primary source of defaults in Asia this year

  • Sunac China shares fall as much as 30% in Hong Kong, the most since Oct. 8, after the defaulted builder received a liquidation petition.
  • China Vanke says a unit has been granted a 1.08b yuan loan from Shanghai Pudong Development Bank for 30 years
  • The Bloomberg China Property Developer is 4.11% lower today, and down 12% already for the year with Sunac the worst performing stock, down 44% this year.
  • Major Property Benchmarks: Mainland Property Index is flat today, however 4.3% lower this year, HS Property Index is also flat today however trades 3.4% lower for the year.