The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. It has around $14.8 billion worth of debt due within 12 months, while its cash levels are around $13.8 billion. Country Garden declined to comment. Despite those measures, China's new home prices fell for the fourth month in August, according to a private survey on Friday, as the property debt crisis kept confidence at a low ebb. "Country Garden will probably make full use of the grace periods…it still looks challenging for them to generate enough cash for the upcoming payments, both onshore and offshore," said Ting Meng, a senior credit strategist at ANZ.

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Persons: Aly, Edward Al, Ting Meng, Benjamin Bennett, they've, Xie Yu, Davide Barbuscia, Sumeet Chatterjee, Muralikumar Organizations: Shanghai Country Garden, REUTERS, HONG KONG, Country Garden Holdings, HK, Columbia, U.S, Country Garden, ANZ, General Investment Management, Thomson Locations: Shanghai, China, HONG, Country, Hong Kong, New York