Country Garden Sales Drop 72% as China’s Housing Woes Persist
A development by Country Garden Holdings Co., in Heyuan.
Source; Bloomberg
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Country Garden Holdings Co.’s sales slump dragged on last month, adding to the Chinese developer’s woes as it tries to avoid liquidation.
Contracted sales for July dropped 72% from a year earlier to 3.41 billion yuan ($478 million), following a 73% slide in June, corporate filings show. The tally was 21% lower from the previous month.