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Hang Seng worry - fears a huge Chinese property company preparing for a debt restructuring
Country Garden is a pillar of the Chinese property sector. But for how much longer? Shares in the firm hit a record low on Friday with fears rising that the company is preparing for a debt restructuring.Country Garden had total liabilities of about $194 billion at the end of 2022. Chinese media, Yicai reported, citing unnamed sources, that Country Garden is expected to begin a restructuring process soon.In addition to stock market inp[acts the news didn't help the AUD either. Up[date:...
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Posted: Aug 13 2023, 22:07
Author Name: forexlive
Views: 110122