China’s beleaguered real estate major Evergrande Group missed the third round of bond repayments on Tuesday, as investors continue to remain edgy especially with Beijing remaining mum on any bailout plan.

News agency Reuters in a report said that debt-saddled Chinese property firms took heavy fire in bond markets on Tuesday, after the poster child of the sector's woes, Evergrande Group missed its third round of bond payments in as many weeks and others warned of defaults.

“A wave of developers face payment deadlines before the end of the year and with Evergrande's fate looking increasingly bleak, fears are mounting of a wider crisis,” it said.

Meanwhile, China’s real estate companies have come under the spotlight of the rating agencies. “Chinese property developers are suffering credit rating downgrades at the fastest pace in five years as a recent slump in new-home sales adds to concerns about the sector’s debt woes,” BloomberQuint said.

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The report added that Moody’s Investors Service, Fitch Ratings and S&P Global Ratings have cut Chinese builders’ ratings a combined 91 times through September 30, triple the number of this year’s upgrades.

Earlier, a foreign policy watcher told India Narrative that Beijing's refusal to bailout Evergrande has a larger message to China’s private sector– that the government will not come to their rescue in case of defaults.

The Chinese real estate sector and its allied services account for about 30 per cent of the country’s gross domestic product (GDP). Besides, according to the latest data, about 29 per cent of all bank loans are directed towards housing.