Country Garden Poses New Risk for China’s Economy: Credit Weekly

One of China’s largest developers is wobbling and has less than 30 days to avoid a default on its bonds, the latest signal of the government’s struggle to end the nation’s property slump as the economy slows.

Country Garden Holdings Co., which had total liabilities of 1.4 trillion yuan ($194 billion) at the end of last year, said it had underestimated the market downturn and is facing the biggest challenge since it was established in 1992. The property firm expects to post a net loss of up to 55 billion yuan for the first half of 2023 compared with earnings ...