No one’s a winner in China’s property market. But in the race to buy time ahead of a hoped-for recovery, property mogul Sun Hongbin has stolen a march. While bigger rivals, such as Evergrande and Country Garden, remain “mired in negotiations with creditors”, Sun’s outfit, Sunac, has scooped a $10bn credit restructuring deal from investors including Ashmore Group and Barings. What apparently swung the deal
