Real Estate

Country Garden Warns on ‘Major Uncertainties’ in Bond Payments

WATCH: There seems to be a discrepancy when it comes to data regarding China’s housing market. The picture emerging from property agents and private data providers is far more dire. Charlie Zhu reports.Source: Bloomberg

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By Foster Wong

August 16, 2023 at 10:33 AM UTC

This article is for subscribers only.

Distressed Chinese developer Country Garden Holdings Co. warned about “major uncertainties” in redemption of its bonds, as it said that trading in some of its local notes will remain suspended.

The builder, whose cash crunch threatens even worse impact than defaulted peer China Evergrande Group given it has four times as many projects, made the comments in a filing with the Shanghai stock exchange.