China's Central bank is injecting capital, but difficult to save the crisis/housing marketing slumps

Here is a new building in China. Those red signs have two words on them: Rush Sale. Homeowners are in a hurry to sell their homes before they even move in.
The rating agency Fitch downgraded Evergrande from "C" to "Restricted Default" on Dec. 9th, 2021. Another major Chinese developer, KAISA DEVELOPMENT, has also been placed in "restricted default" by Fitch. The company failed to pay 400 million US dollars to bondholders earlier in the year. The two companies, Evergrande and KAISA, together account for about 15% of the outstanding U.S. dollar bonds sold by Chinese developers.
Blinken will be disappointed. The most obvious sign is that Evergrande Group issued an announcement on the Hong Kong Stock Exchange on the evening of December 3rd, to confirm its overseas secured private debt with a total amount of 260 million US dollars has defaulted.
In recent years, China's central bank has tried to follow the example of its Western counterparts to build credibility among investors at home and abroad. But in Red China, the Communist Party's leaders trust their own judgment more than the industry's experts.

Videos' links:
https://www.youtube.com/watch?v=NXbEfbjhLTE&t=117s
Citigroup, Credit Suisse stop accepting Chinese dollar bonds/How China's Real Estate Beast is formed
https://www.youtube.com/watch?v=rAdkx9uo2hs&t=309s
Trillion dollars flee: Chinese people try to move their money abroad

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