"China's Property Crisis: Struggling Developers Face Bankruptcy as Real Estate Slump Hits Municipal Bond Market"

China's housing minister stated that deeply troubled real-estate companies must go bankrupt and be restructured, emphasizing the government's focus on ensuring delivery of property projects rather than protecting developers' businesses. This indicates no policy shift for China's housing sector, dispelling speculation that the country is relaxing its crackdown on debt in the sector. The statement comes amidst the ongoing real-estate debt crisis that has already led to the liquidation of property giant Evergrande and a petition for liquidation against Country Garden, reflecting Beijing's stance on addressing the years-long real-estate crisis.