The property giant was unable to repay a loan and signaled it would default on its debt, becoming one of the biggest casualties of China’s deepening property crisis.
FINANCE
Top 10 regions with China’s busiest M&A markets in Q1-3
China’s capital city Beijing grabbed second place on the list of the top 10 regions with China’s busiest M&A markets in Q1-3 period. Guangdong and Zhejiang took the third and fourth spots followed by …
China’s Country Garden warns of default again as property sales plunge
For the second time in just over two months, Country Garden has warned investors that it could default on its $190 billion debt in a reminder that China’s real estate crisis is far from over.
Sri Lanka, EXIM Bank of China reach pact
Channel News Asia: he Export-Import Bank of China reached a preliminary agreement with Sri Lanka last month on the disposal of China-related debts, – Get the latest breaking news and top stories from …
UPDATE 1-Schumer notes ‘serious engagement’ with China’s Xi during Beijing visit
U.S. Senate Majority Leader Chuck Schumer said on Tuesday there had been “serious engagement” during a meeting between a visiting U.S. bipartisan congressional delegation and Chinese President Xi …
China’s top property developer warns it might not repay its international debt
Country Garden, China’s largest property developer, on Tuesday warned it is struggling to repay its overseas debts …
China’s real estate, debt crises prompt IMF warning of widening economic damage
Report by International Monetary Fund suggests China’s economy could be facing even more dire straits, and a ‘sharp repricing of assets’ is possible IMF’s assessment comes as calls for reform are …
China Says Exim Bank, Sri Lanka Reached Preliminary Debt Deal
China said one of its financial institutions has reached a preliminary agreement with Sri Lanka on resolving China-related debt, a potentially major step toward resolving the South Asian nation’s …
China’s Country Garden Succumbs to Debt Crisis After Sales Plunge
The property giant failed to repay a loan and warned that it was unlikely to pay off all its international debt obligations.
China’s Belt and Road generated over $2trln in contracts: Beijing
China is hailing this month the 10th anniversary of its Belt and Road Initiative, which has seen Beijing pour a trillion dollars into projects around the world in a defining geopolitical project for P …
World Bank projects 5.1 pct growth for China in 2023
The World Bank projected a 5.1 percent growth for the Chinese economy in 2023, according to its newly released East Asia and Pacific Economic Update. This was reported by The Xinhua News Agency. “China has…
China’s Country Garden says might not meet all debt obligations
Debt-saddled Chinese property giant Country Garden said Tuesday that it did not expect to meet all of its offshore payment obligations in time as it battles to avoid default. In a filing with the Hong…
Banking mogul breaks silence to defend against allegations of Chinese interference
Once lauded as a Canadian immigrant success story, Shenglin Xian, the 68-year-old founder of Wealth One Bank, now can’t even get approved … orchestrated campaign by the Chinese government to get …
