The latest major industry player to get into trouble is Country Garden, once China’s largest developer.
Several of Country Garden’s yuan-denominated bonds were suspended from trading in Shanghai and Shenzhen on Tuesday after they dropped by more than 20%.
Country Garden did not respond to a request from CNN for comment.
An aerial view of a residential project developed by Country Garden Holdings is seen in Zhenjiang, Jiangsu province on October 31, 2021.
Property crisis deepensChina’s property industry has been mired in a historic downturn in the past two years.
Persons:
“, Fang Dongxu, ”, Edward Moya, Moody’s, Kaven Tsang, Li Qiang
Organizations:
Hong Kong CNN —, Reuters, CNN, Country Garden Holdings, China Index Academy, Oanda, China’s, People’s Bank of
Locations:
Hong Kong, Shanghai, Shenzhen, Zhenjiang, Jiangsu province, China, Moody’s, Beijing, People’s Bank of China