Most real estate buyers in China are actually cash buyers (*even those took mortgage could afford full cash down) so Evergrande's cash crunch problem wouldn't spread or affect much on the mortgage banking circle with minimal credit risks. However the risks are weighed in on its bondholders or entities the lend evergrande the monies. That is why u saw major stakeholders and executives sold or pare down their holdings. On another front, the CCP will not let evergrande fail to contain a ripple effect on China's economy. That could be why there wasn't a market meltdown at least for the time being.