Looks like the (Chinese) Evergrande group is filing for bankruptcy. This could have some impact internationally.
Source: https://www.reuters.com/world/china...-court-part-32-bln-debt-overhaul-2023-08-18/\
Quote: "China's central bank reiterated it would adjust and optimise property policies, according to its quarterly policy implementation report this week. Since mid-2021, companies accounting for 40% of Chinese home sales have defaulted, most of them private property developers. Longfor Group, China's second largest private developer, said on Friday it would try to boost profitability in response to changing supply and demand. The Beijing-based developer posted a 0.6% rise in first-half core profit, and said it would strive to return to positive cash flow this year and not take on new interest-bearing debt. 'The China property sector is like a black hole, so many developers have been dragged into it since two years ago after Evergrande,' said Winner Zone Asset Management CEO and CIO Alan Luk. 'The central government has yet to introduce (strong) measures because this is too large a hole to fill.'"