All of this happened in greater China this week. A thread. 1/10

Evergrande suspends trading. Local media say the developer was ordered to demolish 39 illegal buildings. 2/10
www.bloomberg.com/news/articles/2022-01-05/evergrande-s-condemned-towers-on-china-s-hawaii-show-new-t...

Data for China's 100 largest developers shows contracted sales sank 35% in December, and fell in 2021 for the first time in at least 5 years. 3/10
www.bloomberg.com/news/articles/2022-01-04/chinese-developers-had-annual-drop-in-property-sales-last-...

Omicron breaks through Hong Kong's strict border controls. The city bans arrivals from countries including the US, UK, Australia and shuts down bars, bans evening dining. 4/10
www.bloomberg.com/news/articles/2022-01-05/hong-kong-bans-five-more-flight-routes-as-omicron-besieges...

Tencent sells a $3b stake in Singapore's Sea and China's tech shares take a tumble. 5/10
www.bloomberg.com/news/articles/2022-01-05/china-tech-drops-for-third-day-as-tencent-sale-spooks-trad...

Guangzhou R&F bonds slump after the developer warned it’s struggling to find sufficient funds to partially repay a Jan 13 note. 6/10
www.bloomberg.com/news/articles/2022-01-06/r-f-warns-on-liquidity-bonds-indicated-lower-evergrande-up...

Shimao -- rated IG in November -- defaults on a trust product and rocks the credit market. 7/10
www.bloomberg.com/news/articles/2022-01-06/chinese-developer-shimao-defaults-on-loan-trust-firm-says

China's central bank withdraws liquidity from the banking system and stocks don't like it at all. Investors dump last year's top plays like CATL, and the ChiNext has its worst week since February 2021. Chinese regulators vow to ensure stability 8/10
www.bloomberg.com/news/articles/2022-01-07/china-regulator-vows-stability-after-stock-market-s-rocky-...

The ever-resilient yuan starts to weaken as the Fed turns more hawkish. A newspaper backed by the People's Bank of China warns of the risks of yuan depreciation. 9/10
www.financialnews.com.cn/gc/gz/202201/t20220105_236833.html

And China Huarong shares trade for the first time since March, sinking 50% in one session alone. 10/10
www.bloomberg.com/news/articles/2022-01-05/huarong-rescue-team-hit-by-4-billion-paper-loss-as-stock-s...