1 in 5 chinese developers to go bankrupt this year?

One in five Chinese developers could go bankrupt this year, according to experts.

In March, Zhejiang Xingrun Real Estate, a state-owned developer, defaulted on its US$390 million debt, which was owed to 15 different banks. As a result, investors have been selling stocks in mainland developers as more bankrupties are forecast for the coming year.

One in Five Property Developers Could Go Under in 2014