In a stock filing Tuesday, developer Country Garden said it expects to miss some of its foreign debt payments.
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China’s Country Garden warns its first-ever default could come soon as its September sales plunge by over 80% year-on-year
China’s Country Garden warns it could default on debt
Property developer has about $200bn in liabilities and says its sales are ‘under remarkable pressure’ …
China’s property crisis just keeps getting worse — property giant Country Garden just warned it may default on its debt
It said in a Tuesday filing it did not make a principal payment of HK$470 million, or $60 million that was due.
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 Daily Ventures into NFTs, Eyes Global Collaboration with Top Platforms
China Daily has announced its foray into non-fungible tokens (NFTs) and metaverse. With a budget of approximately $390,000, the publication seeks a competent third-party contractor to bring its …
How China can use its strength in car exports to drive economic growth
China’s edge in EV production is based on many competitive advantages, but work is needed if it is to be turned into an engine of growth Realistically, its EV makers must look beyond the US…
EU and US Seek Steel Deal That May Include Tariffs on China Exports
The European Union is working on an interim deal with the US that would introduce new tariffs aimed at excess steel production from China and other countries in order to end a Trump-era trade conflict…
China’s Country Garden Succumbs to Debt Crisis After Sales Drop
The property giant fails to repay a loan and warns that it is unlikely to pay off all its international debt obligations.
Philippine diplomat witnessed Chinese ships’ aggressive actions in disputed South China Sea
A senior Filipino diplomat known for his past expletive-laced tirade against China joined a coast guard trip to the disputed South China Sea last week and saw Beijing’s ships block and nearly collide …
Samsung, SK Hynix get indefinite waivers to ship U.S. chip equipment to their China factories
Samsung and SK Hynix will be allowed to ship U.S. semiconductor manufacturing equipment to their China factories indefinitely without separate U.S. approvals.
China’s top crypto-mining hardware-maker reportedly furloughs staff
Bitmain’s ‘Antminers’ dominate the market – but customers aren’t buying The world’s largest source of hardware designed for the task of mining cryptocurrency, Beijing-based Bitmain, has reportedly …
China’s disappointing Golden Week holiday—the first after the end of COVID-zero—shows the country’s consumers are still holding back
While domestic travel during China’s Golden Week holiday rebounded to just over 2019 levels, it still fell short of official government forecasts.
