Third of Chinese developers could face debt problems as Evergrande contagion grows – report

Even if the embattled property giant manages to avoid default again, many other firms are heading the same way, warns S&P

One third of China's property developers will struggle to repay their debts in the next 12 months, according to a new report, as the sector reckons with increasingly serious headwinds from falling sales, restricted access to credit and a wider downturn.

Even if the embattled developer Evergrande manages to meet its latest debt repayment on Friday and head off a potentially disastrous default, analysts at the credit rating agency S&P warned that many other property companies could be heading towards bankruptcy.