Chinese Property Giant Country Garden Faces Liquidity Crunch Amid Broader Real Estate Crisis
- Country Garden, once China's largest developer, has missed bond payments and warned of major losses, spooking investors.
- The company faces high refinancing costs and declining sales amid a historic downturn in China's property sector.
- Analysts say a Country Garden default could have a greater impact than Evergrande's collapse given its vast number of projects.
- Chair Yang Huiyan has seen her wealth plummet amid Country Garden's troubles, with some hoping she uses her fortune to support the firm.
- Beijing is weighing further policy measures to aid the property sector, but the industry outlook remains gloomy in the near-term.
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