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The Latest Breaking News from Country Garden

Country Garden shares jump after Chinese developer strikes debt deal

European stocks hit three-week high as China’s government tries to prop up ailing economy

The Guardian - UK

IMF report a timely wake-up call for NZ Inc in election countdown

Business & Investing: Restaurant Brands leads earnings downturn, reporting a problem faced by many businesses: margins being severely squeezed due to cost increases. Andrew Patterson reports.

Newsroom.co.nz

Yang Huiyan: Country Garden owner who was once Asia’s richest woman

Teetering Chinese property developer has caused wealth of its founder’s daughter to plummet

The Guardian - UK

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read the most diverse news in one place.

Chinese property firm Country Giant posts record losses, warns of potential default

Chinese real estate group Country Garden has posted record losses of €6.5 billion for the first half of 2023 and warned that it could default on its debt if its financial performance "continues to deteriorate". The news underlined the country's struggling growth, since the property sector may represent as much…

France 24

Chinese developer Country Garden reports $6.7bn loss amid fears of another Evergrande

Group warns that if its financial performance ‘continues to deteriorate’ it faces possible default after huge half-year losses

The Guardian - AU

China’s economic model is faltering – does it have the political will to fix it?

The country’s property crisis is causing damage that requires Xi to make liberal or market reforms

The Guardian - UK

Country Garden to be booted from Hong Kong's stock index

Country Garden is reportedly trying to extend the payment period for a bond due in September as it tries to avoid a default.

Fortune

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Red bands in the black but, above the line, Fonterra puts farmers in red ink

Brace for impact as markets tumble on renewed central bank warnings, and Fonterra lowers its farmgate milk price forecast for the second time in a fortnight. Andrew Patterson reports.

Newsroom.co.nz

Weekly Must-Read: How Zhongzhi Became the Latest Chinese Financial Holding Group to Fall

For years, the conglomerate held a reputation as one of the premier private financial holding groups in China, but its problems escalated quickly after the sudden death of its founder, Xie Zhikun, in late 2021

Caixin Global

China's economic woes keep getting worse. Here's why

China has seen a series of disappointing economic data this year. UBS' Tao Wang explains what went wrong with the anticipated recovery after China's tough COVID restrictions, and what could come next.

WEKU

Top Chinese developer’s financial woes cast shadow over Australian property market

Huge housing estates developed by Risland on the fringes of Sydney and Melbourne could be affected as shares of parent company Country Garden plunge

The Guardian - AU

Behind the ticking time bomb – should we fear China’s slide into deflation?

China was expected to roar back into life after Covid, but its weak rebound has shocked analysts

The Guardian - UK

Country Garden’s losses fan worst fears on China property market

BEIJING: Less than two years after China Evergrande Group’s default sent shockwaves around the world, an even larger Chinese developer is on the brink.

The Times of India

Once China’s top builder, Country Garden turns into penny stock

BEIJING: Country Garden Holdings Co, formerly China’s largest developer by sales, has become a Hong Kong penny stock amid increasing scrutiny of its operations and mounting liquidity concerns.

The Times of India

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Fortune

China hailed a property developer with $64 billion in revenue as a role model. Now the country’s property crisis threatens to send it into default too

Country Garden was meant to be a survivor of China’s property crisis, but a missed interest payment shows that it’s also tight on cash.

Barchart

Will China’s Property Crisis Worsen?

China’s Country Garden Holdings, one of China’s largest private-sector property developers, is late on delivering coupon payments on its debt, sparking fears the company could soon default. The company failed to pay coupon payments due Monday. Country Garden Holdings owes $10.5 million of interest on a dollar bond that matures...

The Guardian - UK

China’s top property developer expects first loss since 2007 flotation

Country Garden’s 2022 forecast is another blow for country’s embattled sector

Caixin Global

China’s Richest Woman Takes Father’s Seat at Head of Country Garden’s Board

Yang Huiyan has been appointed chairperson of one of China’s largest property developers, succeeding the company’s retiring founder, Yeung Kwok Keung

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news in one place.

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Reuters

China banks pledge $162 billion in credit to developers, shares rally

China's biggest commercial banks have pledged at least $162 billion in fresh credit to property developers, bolstering recent regulatory measures to ease a stifling cash crunch in the sector and triggering a rally in property shares.

Caixin Global

Country Garden Pulls Out of S&P Rating Following Downgrade

Property development giant — which hasn’t defaulted on debt — blasts S&P over score that it says doesn’t fairly reflect its true credit status

Benzinga

Stumbling Jiumaojiu Coughs Up Big Bucks for Local Mega-Mall

Key Takeaways: Jiumaojiu said it will pay up to $140 million for 26% of the company developing the Guangzhou IFC Mall Project, which will become its new headquarters

The Guardian - AU

China’s biggest property developer Country Garden sees profits plunge 96%

The company blames the ‘severe depression’ in the property market and says ‘only the fittest will survive’

Daily Mirror

Asia’s richest woman loses half £19billion fortune after property market crashes

At her peak, Yang Huiyan's £19.5billion fortune eclipsed that of fellow Chinese billionaires Fan Hongwei and Wu Yajun, both worth around £10.8billion at the time

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