China’s indebted developers are struggling to meet Beijing’s tighter financing rules. Two-thirds of the top 30 Chinese property firms by sales ranked by the China Real Estate Info Corp. have breached at least one of the metrics known as the “three red lines.” Greenland Holdings Corp., Jiangsu Zhongnan Construction Group , and Guangzhou R&F Properties Co. have not met any of the metrics, Bloomberg-compiled data showed as of Oct. 29. Two-thirds of top 30 Chinese developers crossed at least one red line Developers are facing rising financial stress as stricter rules around borrowing and a deleveraging campaign by authorities weigh on the sector. A liquidity crisis at China Evergrande Group has roiled markets, with the nation’s real estate sector making up almost half of the world’s distressed dollar-denominated debt. Speculative-grade yields briefly topped 20% in October — the highest in a decade. The three lines are as follows, according […]