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China's real estate market roiled by default fears again, as Country Garden spooks investors - TL;DR CNBC

China's real estate market roiled by default fears again, as Country Garden spooks investors

Publishing timestamp: 2023-08-10 04:30:02


Summary

The article discusses the financial troubles in China's real estate sector, with Country Garden reportedly missing two coupon payments on dollar bonds and Dalian Wanda's senior vice president being taken away by police after an internal anti-corruption probe. The article highlights concerns about falling home sales, declining home prices, and a faltering economy in China. It also mentions the potential negative impact on other non-state-owned developers and the likelihood of asset sales to avoid defaults. The article concludes by discussing the overall sluggishness of China's real estate market and the challenges faced by Chinese developers in raising money.


Sentiment: NEGATIVE

Tickers: 2202-HK960-HKZ2-CN

Keywords: longfor group holdings ltdchinareal estateeconomic eventsbeijingchina vanke co ltdbusiness newsmarket insidermarketsstock markets

Source: https://www.cnbc.com/2023/08/10/china-property-market-roiled-by-default-fears-country-garden-spooks-investors.html


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