Chinese regulators are attempting to revive a sagging property market with new bond guarantees for a select group of developers. Investors think it will take a lot more to pull the real-estate sector out of its deepest slump in years.
Many of the country’s real-estate companies are struggling. More than 30 have defaulted on their dollar-denominated bonds, and even the strongest private-sector developers have faced challenges selling new debt as their bond prices have tumbled and yields have soared. In recent days, a flurry of large and small Chinese developers have put out profit warnings.