Joint ventures spark fears of hidden debt at China property developers

April 22, 2015 9:00 PM

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HONG KONG, April 23 (Reuters) - As China's housing market faces a sharp drop in sales, investors and credit rating agencies face an uphill task trying to calculate how much debt the country's property developers actually hold.

Rising land prices in China have led to developers increasingly teaming up on construction projects in the past two years through joint ventures, with as many as six joining up to work on one development.

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