China Evergrande Group delayed key votes on its offshore-debt restructuring plan just hours before they were to occur Monday, adding to uncertainty in a protracted process to finalize one of the country’s biggest restructurings ever, Bloomberg News reported. The distressed developer, at the epicenter of a property crisis that’s unleashed record delinquencies in a threat to China’s financial markets, delayed the meetings for the group and some units to Sept. 25-26, it said in a filing.

Embattled Chinese developer Country Garden (2007.HK) said on Monday its $100-billion project in Malaysia was proceeding as planned and it had sufficient assets, despite concerns about its financial strength amid debt woes, Reuters reported. The comment by China's largest private developer came after it missed two dollar coupon payments this month totaling $22.5 million, fuelling fears that the country's property debt crisis could hamper a broader economic recovery and spill overseas.

Bank of Japan Governor Kazuo Ueda said the pace of economic activity in China has been a disappointment that could cloud Japan's economic outlook, Reuters reported. China's July data, such as retail sales, business investment and industrial production were "on the weak side," Ueda said, according to the text posted on the BOJ's website on Monday.

New Zealand’s government is tightening its belt as a domestic recession and concerns about China’s faltering economy erode tax revenue and strain its budget, Bloomberg News reported. The government has identified almost NZ$4 billion ($2.4 billion) of potential savings over the next four years, Finance Minister Grant Robertson said Monday in Wellington. He has instructed the public service to cut spending on consultants and contractors and said he will also reduce future budget allowances. “We have seen further deterioration in the global economy, particularly in China,” Robertson said.

Embattled property developer China Evergrande Group said on Friday it has "adequately" fulfilled the resumption guidance issued by the Hong Kong Stock Exchange and made an application to resume trading in shares on Aug. 28, Reuters reported. Once China's top-selling developer, Evergrande has become the poster child for an unprecedented debt crisis in the country's property sector, which accounts for roughly a quarter of the economy, after facing a liquidity crunch in mid-2021.

Chinese developer Country Garden Holdings has delayed from Friday until Aug. 31 the deadline for holders of a private yuan bond to vote on its new plan to extend its repayment schedule, a filing seen by Reuters showed. The deadline has been postponed to give bondholders more time to consider the plan, according to the filing. China’s largest private developer earlier this month missed two dollar coupon payments totalling $22.5 million, raising fears that the country’s deepening property debt crisis will hamper the financial sector and a broader economic recovery.

China's central bank has asked domestic lenders to scale back outward bond investments according to two sources with direct knowledge of the matter, the latest in series of increasingly strong steps to support the yuan, Reuters reported. The directive, issued this week, is for banks to restrict southbound purchases under the Bond Connect scheme, and is aimed at limiting the supply of yuan offshore, the sources said. The sources spoke on condition of anonymity as they were not authorised to talk to the media. The PBOC declined to comment on the content of the window guidance.

The Adani Group said cash and profit generated from its sprawling infrastructure business can cover all the debt maturing each year in the coming decade, messaging that’s part of the Indian conglomerate’s latest effort to shore up investor confidence months after a damaging short seller attack, Bloomberg News reported. In a credit report released Thursday, the power-to-port conglomerate founded by billionaire Gautam Adani said its cash flow generated from business operations and balances stood at 778.9 billion rupees ($9.4 billion) as of end-March.

Just the threat of legal action has been pushing many promoters to pay their dues, according to Indian government data, the Economic Times of India reported. Many companies' managements have reportedly paid back their dues shortly after lenders filed cases with the National Company Law Tribunal (NCLT), out of fear of losing control over their companies. Creditors, banks and suppliers have recovered dues pretty much immediately after filing under the Insolvency & Bankruptcy Code (IBC), without even waiting for petitions to be admitted.

Global investors fleeing China have one simple message for the country's leadership: put prudence aside for a short while, and start spending big, Reuters reported. As they go from hope to disappointment and now capitulation, investors are losing patience with what they see as incoherent, slow and stingy measures by China to revive its sputtering economy and defuse a deepening property crisis.