China Signals No Bailout for Seriously Insolvent Developers as Real Estate Crisis Deepens

• China's housing minister said distressed property developers that are "seriously insolvent" must go bankrupt. This signals Beijing will not bail them out.

• Minister's comments provide insight into how Beijing plans to handle its real estate crisis - by letting some developers fail while trying to boost demand.

• Evergrande has already gone through liquidation. Country Garden faces a similar fate with a liquidation petition.

• Timing of comments notable as speculation rose of China relaxing property crackdown, which minister dispelled.

• Indicates no major shift in property policies - priority is ensuring project delivery, not protecting developers' business.