Country Garden: China property giant default fears grow

2023-10-18 14:56

The housing sector accounts for a third of China's economy, whose post-pandemic recovery has been sluggish.

Country Garden: China property giant default fears grow

China's biggest private property developer Country Garden is believed to have become the latest property giant to default on its overseas debt.

The firm has $11bn (£9bn) in debt and another $6bn in onshore loans, and a default would mark one of the country's biggest corporate debt restructurings...