CIFI��s plight is particularly alarming. It managed to avoid defaults on any of its publicly-traded debt, and even paid an interest payment for an offshore bond <KY196979280=RRPS> due in 2024. That bond, though, rallied to 60 cents on the dollar last month, but now trades at just 28 cents. CIFI��s chairman has also flagged that the company was not able to tap its $4.1 billion of cash on its balance sheet due to government controls on its escrow accounts. The stronger parts of the property market are weakening, and fast. (By Yawen Chen)
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