Country Garden Holdings, China's largest property developer, faces a legal battle in Hong Kong over a $205m unpaid loan.
Country Garden Holdings, China's largest property developer by sales, faces a legal battle in Hong Kong against a creditor seeking its liquidation over a $205m unpaid loan. The case adds to the growing pressures on China's property sector, with the government considering plans to have local governments buy unsold homes from distressed developers at steep discounts using loans provided by state banks.
May 16, 2024
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