China's Country Garden gets liquidation petition from creditor
Publishing timestamp: 2024-02-28 00:53:06
Summary
Country Garden Holdings received a liquidation petition from a creditor for non-payment of a loan, causing concerns about China's struggling property sector. The company plans to oppose the petition and work with offshore creditors on a restructuring plan. The property sector in China is facing challenges with debt and defaults, impacting major developers like Country Garden and Evergrande.
Sentiment: NEGATIVE
Tickers: 3333-HK, .HSI, 2007-HK,
Keywords: business news, country garden holdings co ltd, china evergrande group, debt and bond markets, stock markets, south asia, china, hong kong, east asia, asia economy, asia news, hang seng index, india, forex markets, currency markets, real estate,
Source: https://www.cnbc.com/2024/02/28/chinas-country-garden-gets-liquidation-petition-from-creditor-.html