BEIJING, August 15 (TiPost) - With an expected loss of 45-55 billion yuan in the first half of the year, China’s largest private real estate developer Country Garden suspended trading last weekend to prepare for debt restructuring, issuing two consecutive announcements that bared its massive d...
Country Garden has also been committed to delivering its residential buildings as required by policies. In 2022, it delivered 700,000 units, more than double the number delivered by the second and third-ranking developers, Evergrande and Vanke. This accounted for 17.5% of the top 50 real estate...
Government figures show property sales in China shrank almost 50% over the past three years as the industry reeled from an unprecedented debt crisis that began in 2021. Country Garden, however, said it expected a smaller annual loss for the full year of 2024 on improved margins following...
Delivery, operation, and credit are the key focuses for Country Garden in 2024, and delivery is the bottom line that Country Garden “must firmly hold”, said Chairwoman Yang Huiyan during the company’s annual working meeting on Monday. Country Garden, grappling with financial strain, defaulted...
grappling with financial strain, defaulted on its $11 billion offshore bonds in October 2023 and sought extensions for repayments on its onshore notes. The company is part of an extensive roster of developers confronting a liquidity squeeze, a predicament triggered by the debt crisis that emerged...
A residential development by Country Garden in Tianjin, China. The property group has been struggling to meet debt repayments while it awaits a recovery in demand from homebuyers© Tingshu Wang/Reuters Shares in Chinese property developer Country Garden rose almost 20 per cent on Monday after cr...
The hearing into Country Garden’s liquidation petition comes against the backdrop of Chinese authorities stepping up efforts to revive the property sector after it slipped into an unprecedented debt crisis in mid-2021. Real estate defaulters ...
The hearing into Country Garden's liquidation petition comes against the backdrop of Chinese authorities stepping up efforts to revive the property sector after it slipped into an unprecedented debt crisis in mid-2021. Over the last couple of years, a growing list of dev...
Whether in the private sector or government, a debt crisis in one country can and frequently does spread economic pain to other countries. This can happen through a tightening of financial conditions such as a spike in interest rates, a slowdown in trade and economic growth, or merely...
To this point, it is known to all that Country Garden is in the final countdown to default. The outbreak of the Country Garden’s crisis follows a typical procedure. First of all, suspicious moves, including the executives’ sudden reduction of their shares and the major shareholders’ donati...