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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:

www.forexlive.com

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