The Chinese real estate market is experiencing another potential black swan event as Country Garden, once China’s largest property developer by sales, spirals into a crisis that threatens to surpass the impact of China Evergrande…
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Country Garden: Debt-laden China property giant in record loss
Country Garden, one of China’s biggest property developers, has become the latest real estate giant to warn that it could default on its debts. This came as the crisis-hit company reported a record $6.7bn (£5.2bn)…
China’s largest property developer at risk of default
Country Garden reported a loss of almost $7 billion for the first half of the year, deepening China’s real estate crisis — and imperiling the broader economy.
China’s property crisis deepens with 87% value wipeout in developers’ dollar bonds
An 87% value wipeout for Chinese developers’ dollar bonds is symptomatic of the wider crisis facing the nation’s property sector, which has seen 53 companies collapse in about two years.
Country Garden Posts Record Loss, Warns of Default Risk. China’s Property Problems Are Mounting.
The developer said it feels “deeply remorseful for the unsatisfactory performance” and added that it could end up defaulting on its debts.
FirstFT: Country Garden reveals $7bn loss as China’s property sector turmoil grows
Also in today’s newsletter, US warns of ‘advancing’ Russia-North Korea arms talks and Gina Raimondo hails ‘new approach’ to handling China business frictions …
Pressure on China’s Property Market Builds as Country Garden Faces Fresh Stress
Country Garden Holdings (ticker: 2007.Hong Kong), one of China’s biggest property developers, is due to report earnings for the first half on Wednesday after missing interest payments on its bonds …
Guangzhou eases mortgage rules as China ramps up efforts to revive property sector
Guangzhou on Wednesday became the first major Chinese city to announce an easing of mortgage curbs as the government ramps up efforts to revive the crisis-hit property sector and shore up the …
China’s Property Woes to Weigh on Steel Prices Through Next Year
Chinese steel prices are likely to drop through 2024 as demand growth weakens and excess capacity weighs on the market, according to Capital Economics Ltd.Most Read from BloombergCitadel Vets 69,000 I …
China’s too-big-to-fail property giants just the tip of real estate crisis, as ‘suppliers are being dragged to death’
If you ask small-business owner Bill Ye, the writing was on the wall for China’s embattled property sector long before Country Garden said its net losses in the first half of this year could reach…
China Real Estate Giant Country Garden Could Be Next To Go Bust
BlackRock, others, are holders of Country Garden outstanding debt. No one here’s getting bailed out of this mess as stock prices head to zero.
A key barometer for China’s economy is shining bright despite the nation’s property crisis
Iron ore, among other commodities like copper, is traditionally associated with growth in China’s economy, according to JPMorgan strategists.
Paid Late, or Never: Painters, Builders and Brokers Hit by China’s Property Crisis
As a real estate meltdown ripples through the economy, small businesses and workers are owed hundreds of billions of dollars, and new projects have dried up.
