2023-08-18 13:40:11
Concerns about another large Chinese real estate developer have recently increased. Country Garden fell in the stock market after missing two coupon payments on US dollar bonds. Although it is only interest payments in the amount of 22.5 million US dollars. Nevertheless, memories of Evergrande were immediately awakened, where the problems had started in a similar way. After all, the group is threatened with bankruptcy in September if the coupon payments continue to fail.
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According to data from the real estate research institute CRIES, real estate sales fell by almost 30 percent in June. The problems are also evident in some other real estate developers such as the Yango Group or Shanghai Shimao Co. Ltd.
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