"That doesn't get them completely out of the woods," said one Country Garden bondholder, who declined to be identified, adding that the developer was facing a further batch of bonds payments in coming months.
"If sales don't improve people will worry about the repayment ability for developers like Country Garden who have large exposure in smaller cities," Cheng said.
"Country Garden is a top developer in terms of sales.
It has been another week of unsettling news in the property market in China.
Other efforts are needed to boost buyers’ sentiment about the long-term trajectory of the property market," they added.
Persons:
Raymond Cheng, Cheng, Friday's, Wanda, China's, Wang Jianlin, DWCM, selloff, Yao Yu, Wanda Commercial's, Ankur Banerjee, Jason Xue, Clare Jim, Xie Yu, Marc Jones, Tom Hogue, Robert Birsel, Sharon Singleton, Frances Kerry
Organizations:
HK, CGS, CIMB Securities, Dalian Wanda Group, ANZ, Dalian Wanda Commercial Management, P, JPMorgan, Reuters Graphics, Thomson
Locations:
SINGAPORE, HONG KONG, Hong Kong, China, Beijing, Greenland, Dalian, Singapore, Shanghai, London