The content originally appeared on: CNN Hong Kong (CNN Business)Another major Chinese developer has defaulted on its debt, dealinga new blow to the ailing real estate sector in the world's second largest economy. Shanghai-based Shimao Group failed to pay the interest and principal on a $1 billion bond due Sunday, according to a company filing to the Hong Kong stock exchange. The bond had no grace period for the principal, according to its offering document. It is the firstmisseddebt repayment […]
