Chinese property giant weighs down on FTSE14 Aug 2023 12:41
"Country Garden announced over the weekend it would suspend trading of onshore bonds from Monday, a decision likely to cause concern in the markets as the company said its debt was estimated at some CNY1.15 trillion, or USD159 billion, at the end of 2022.
Like its competitor Evergrande, which owes more than USD300 billion, any collapse of Country Garden would have damaging repercussions on the Chinese financial system and economy."