Country Garden Co-Founder Makes Rare Appearance Amid Debt Woes bloomberg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloomberg.com Daily Mail and Mail on Sunday newspapers.
Yeung Kwok-keung’s visit to a Guangdong construction site comes as the sector’s embattled companies and their billionaire bosses strive to show their dedication to delivering housing and clearing debts amid what is seen as heightened government scrutiny.
The founding family of Country Garden recently loaned the embattled Chinese property developer $300 million interest free, and the family was also trying to sell its private jet, a Chinese online .
Country Garden’s financial struggles confirm investors’ worst fears about the nation’s vast property market, which has resumed a downturn after a brief rebound.