JPM warns of higher risk for Chinese REITs after Country Garden's troubles

Brokerage J.P.Morgan warned on Monday an estimated 2.8 trillion yuan ($385.78 billion) worth of assets under the management of Chinese real estate investment trusts (REITs) face higher risk following the debt payment delays by Country Garden .

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo

"Unlike banks, which have holding power and are able to roll over credit to wait for eventual resolution, alternative financing channels such as trusts may default once trust investors are unwilling to roll over the products," JPM analysts led by Katherine Lei in a note.

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