Chinese property loans come under selling pressure

Singapore

LOAN investors are shunning Chinese property developers amid speculation that the government will target more builders after pledging to step up anti-graft probes. Loans from Shimao Property Holdings Ltd, Country Garden Holdings Co, Evergrande Real Estate Group Ltd and Greentown China Holdings Ltd maturing within four years are at levels that indicate impending stress, according to offered prices compiled by Bloomberg from two traders.

President Xi Jinping last week said there will be no let-up in his "fierce and enduring" battle against corruption, which has already embroiled thousands of senior officials.