Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
China's property crisis deepens as another big developer gambles on default Risk

China's property crisis deepens as another big developer gambles on default Risk

Posted on August 17, 2023   |  

China's major developer in the property sector missed interest payments on 2 bonds, sparking renewed investor unease.

Country Garden, once China's largest developer, sees its stock plummet by 16% as it failed to satisfy interest payments, leading to the suspension of yuan-denominated bond trading.

The setback is attributed to Country Garden's temporary liquidity pressure, arising from low sales and a challenging refinancing environment.

China's property industry witnesses a historic downturn with falling new home sales and a string of major defaults, posing significant challenges to economic recovery.

Policymakers in Beijing expressed mounting worry about growth, highlighting the necessity to support the property market's revival as a key driver for stimulating the economy.



Previous Next