China Property Crisis: The world s second-biggest economy has struggled to get back on its feet this year after reopening from COVID curbs, largely because its massive property sector has stumbled from one crisis to another in a major blow to consumer and investor confidence.
Country Garden Holdings: Bondholders of a total of 8 million notes, each with a principal of 100 yuan chose to exercise the put option by Nov. 28, while Country Garden has wired funds that fully repaid the principal and interest, the filing showed.
China Property Crisis: Beijing s top decision-makers, including President Xi Jinping, pledged at an annual closed-door meeting held Monday and Tuesday to "actively yet safely defuse risks in the real estate sector" and "meet the reasonable financing needs of real estate enterprises".
Shimao Group, with around $11.7 billion in offshore notes, bonds and other credit facilities has been pushing forward plans to revamp its debts over the past few months, Shimao said in a filing to the Hong Kong Stock Exchange late on Thursday.