A third of Chinese developers will struggle to repay their debts in the next 12 months, as contagion from Evergrande spreads.
Analysts at credit rating agency S&P warned that many other property companies could be heading towards bankruptcy.
The Chinese property sector as a whole owes an estimated $5tn, according to Nomura, which amounts to one-third of the country’s GDP.
The property companies must somehow find around $92bn over the next year as bonds mature and borrowing rules tighten.
