Chinese builders – already struggling with a stagnant housing market and several rounds of tightening credit control measures – now have to deal with a falling yuan amid increasing offshore debt.The yuan weakened by 3.84 per cent in August, the biggest monthly loss since January 1994. It also broke through the key level of 7 yuan per US dollar, after US President Donald Trump announced that he would slap import tariffs of 15 per cent on an additional tranche of goods that will ultimately cover…
Source : South China Morning Post
Read more…Weakening yuan piles pressure on highly indebted Chinese property developers















