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If that sounds familiar, you might have eldest daughter syndrome. Eldest daughter syndrome isn't a diagnosable condition, but rather the behaviors, thought patterns, and priorities that can arise from being what's known as "parentified" as a child. People experiencing eldest daughter syndrome disproportionately tend to be women from low-income families and families from the global majority who might have more culturally-imposed expectations of daughters, she said. Capleton shared the signs you could be experiencing eldest daughter syndrome, whether you're the firstborn daughter or not. Feeling the need to take responsibility for everyone elseOne of the biggest signs of eldest daughter syndrome is taking on a lot of responsibility from a young age.
Persons: Paris, Yang Hu, Capleton, what's, Organizations: Service, Cambridgeshire, Foundation Trust, Business, Lancaster University Locations: Peterborough
TOPSHOT - This aerial photo taken on October 31, 2021 shows buildings of China's developer Country Garden Holdings in Zhenjiang, in China's eastern Jiangsu province. China's largest developer Country Garden Holdings reported a record 96 percent on-year drop in its first-half earnings on August 30, 2022, in the latest grim illustration of the economic chaos coursing through the country's property sector. China's largest private property developer, Country Garden, expects the property market will remain weak in 2024 and the company could face more, "severe" challenges, its top management said. Country Garden, which defaulted on its $11 billion worth of offshore bonds in October and extended repayments on its onshore notes last year, is among a long list of developers facing a cash crunch since being hit by a debt crisis in mid-2021. "The challenges to be faced by the company this year may be more severe than we imagine; we have to respond calmly," Country Garden President Mo Bin said.
Persons: Yang Huiyan, Mo Bin, Yang Organizations: Garden Holdings, Weibo Locations: Zhenjiang, China's, Jiangsu
Ping An, based in the southern tech hub of Shenzhen, vies with China Life (601628.SS) for the title of the country's biggest insurance group by market value. Country Garden has said repeatedly that "home delivery" is its top priority. WHY HAS BEIJING PICKED PING AN TO RESCUE COUNTRY GARDEN? Ping An was a natural choice because it is based in Guangdong and has been a major Country Garden shareholder, said the sources. Ping An said after the Reuters report that it no longer holds Country Garden shares.
Persons: Ping, Ma Mingzhe, Morgan Stanley, Goldman Sachs, Yang Huiyan, Alex Ren, Julie Zhu, Kim Coghill Organizations: Ping An Insurance Group, HK, Reuters, WHO, China, Lufax, Ping An Healthcare, Technology, HSBC, Shenzhen Investment Holdings Co, Central Huijin Investment, Charoen Pokphand, CP, China Evergrande, Evergrande, Regulators, BEIJING, Authorities, Garden, Thomson Locations: HONG KONG, China, Shenzhen, vies, New York, Hong Kong, Shanghai, Guangdong
Ping An has "not been asked by (the) Government to takeover Country Garden. Country Garden declined to comment. Country Garden shares were up 4% in afternoon trade. The insurer had as of Aug. 11 a 4.99% stake in Country Garden, according to Hong Kong stock exchange data. Country Garden had total liabilities of 1.4 trillion yuan ($190 billion) at the end of June.
Persons: Damir Sagolj, Ping, Li Qiang, Ping An, Ma Mingzhe, Ma, Peter, Yang Huiyan, Yang, Anne Marie Roantree, Antoni Slodkowski, Don Durfee, Edwina Gibbs Organizations: Ping An Insurance, Global Mobile Internet Conference, National Convention Center, REUTERS, Ping An Insurance Group, HK, Council, Ping An, Reuters, Government, China, Information, Country Garden, People's Bank of China, Financial Regulatory Administration, Shenzhen Metro, Peking University Founder, Thomson Locations: Beijing, China, China's, Guangdong province, Guangdong, Hong Kong, GUANGDONG, Shenzhen, Ping An
There is a new poster child of China’s protracted real estate crisis — Country Garden. Country Garden has not responded to requests for comment by phone or email. Here’s what to know about the rise and fall of Country Garden, and the future of China’s once red-hot property sector. Until last year, Country Garden was China’s biggest real estate developer, specializing in residential property. While confidence in China’s real estate sector has been shaky since the collapse of Evergrande, Country Garden reignited fears in August when its liquidity crisis burst into public view.
Persons: Evergrande, Yang Huiyan, Krishna Srinivasan, Organizations: Hong Kong CNN, Bloomberg News, Financial Times, Citigroup, Hong Kong, Country Garden, Seng, International Monetary Fund, National Bureau of Statistics, Pacific Department Locations: Hong Kong, Foshan, Guangdong province, China, United States, Evergrande, Beijing, Asia
[1/5] A view of the residential apartments in Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. The group hired PJT Partners (PJT.N) as financial adviser to lead discussions with Country Garden, two people with knowledge of the matter said. Ratings agency Moody's said on Thursday it could downgrade Country Garden's (2007.HK) 'corporate family rating' if the recovery prospects for its creditors weaken further. Moody's said Country Garden's senior unsecured rating of C was already at the lowest of its rating scale. Country Garden and Frasers did not immediately respond for a request for comment on that sale.
Persons: Edgar Su, PJT, Moody's, Frasers, Houlihan Lokey, Sidley Austin, Yeung Kwok Keung, Yang Huiyan, Yeung, Yang, Cao Jianglin, Garden's, China Evergrande, Scott Murdoch, Xie Yu, Clare Jim, Anousha Sakoui, Liz Lee, Lewis Jackson, Kim Coghill, Christopher Cushing, Jamie Freed, Lincoln, Miral Fahmy, Jane Merriman Organizations: REUTERS, HK, PJT Partners, Garden's, Australian Financial, Reuters, China International Capital Corporation, Finance, HSBC, China National Agricultural Development, SOE, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, China HONG KONG, Garden's Australian, Melbourne, China, Shunde, Guangdong province, Sydney, Hong Kong, London, Beijing, Sydndey
Hong Kong CNN —China’s real estate market remains a drag and will put pressure on global growth. The data comes at a time when Country Garden, once the country’s biggest homebuilder, is fighting for its life. The property slowdown will impact not just China, but also global growth, the International Monetary Fund (IMF) said on Wednesday. Global impactThe IMF said China’s property downturn will weigh on global growth prospects. Country Garden issued a statement on Thursday, threatening to pursue legal action against anyone spreading “malicious rumors” about its founder fleeing the country.
Persons: Hong Kong CNN —, , Krishna Srinivasan, Srinivasan, Yang Huiyan, Yang Guoqiang Organizations: Hong Kong CNN, National Bureau of Statistics, International Monetary Fund, NBS, IMF, Pacific Department Locations: China, Hong Kong, Beijing, Ukraine, Asia
BEIJING, Oct 19 (Reuters) - Country Garden's founder and chairperson of the board are at work as usual, the debt-laden Chinese property developer said on social media on Thursday, denying online reports of the pair leaving the country. Founder Yeung Kwok Keung quit Country Garden's board in March and daughter Yang Huiyan became chairperson. Country Garden on Wednesday was due to pay a $15 million coupon payment on a bond due September 2025, but two bondholders told Reuters they were yet to receive it. On Wednesday, it said it was unlikely to be able to meet most of its upcoming offshore debt payments. Country Garden has almost $11 billion of offshore bonds outstanding.
Persons: Yeung Kwok Keung, Yang Huiyan, Yeung, Liz Lee, Scott Murdoch, Kim Coghill, Christopher Cushing Organizations: Reuters, Thomson Locations: BEIJING, Shanghai
HONG KONG, Oct 18 (Reuters) - Born into a peasant family in rural China, Yeung Kwok Keung's rags-to-riches tale inspired millions across the country until his Country Garden (2007.HK) empire spiralled into crisis this year. On his home turf, Yeung and his company had many nicknames, among them "The most grassroots tycoon" and the "Universe's No.1 property developer". Born in 1955, Yeung founded Country Garden along with four others in 1992, quickly building its scale across China and transforming it into a household name by the early 2000s. Focusing on less popular, smaller cities in the world's second-largest economy was what made Country Garden successful, as the world's second-largest economy urbanised. In a company statement in August, Yeung spelt out a number of attributes that he said make "The Country Garden that I dream of", some of which will be key amid the crippling cash crisis.
Persons: Yeung Kwok, Yeung, Wu Jianbin, Yeung's, Yang Huiyan, Clare Jim, Dorothy Kam, Anne Marie Roantree Organizations: Xinhua, Volkswagen, China Evergrande, HK, Forbes, Thomson Locations: HONG KONG, China, HK, Foshan, Guangdong, Xinhua
The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG, Oct 13 (Reuters) - The founding family of Country Garden (2007.HK) 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 news outlet, The Paper, reported on Friday. Another online news outlet, Cailianshe, reported earlier that founder Yeung Kwok Keung had already sold a new jet and was trying to sell another. Country Garden declined to comment. Country Garden's 30-day grace periods to make the missed coupon payments will start expiring next week.
Persons: Aly, Yeung Kwok Keung, Yeung, Mo Bin, Yang Huiyan, Clare Jim, Simon Cameron, Moore Organizations: Shanghai Country Garden, REUTERS, HK, Thomson Locations: Shanghai, China, HONG KONG, Shunde, Guangdong province
CNN —Chinese property giant Country Garden has twice narrowly avoided defaulting on its debt in a matter of days. Here’s what to know about Country Garden, and the future it faces. That was down significantly from revenue of about 523 billion yuan ($71.6 billion) and net profit of approximately 41 billion yuan ($5.6 billion) in 2021. Investors have since been bracing for a potential default by Country Garden, which has openly admitted this could happen soon. Country Garden shares in Hong Kong have plunged 55% so far this year as investors dumped the stock.
Persons: it’s, , Evergrande, Yang Huiyan, Yang, , Fitch Organizations: CNN, Getty, Garden, Hong Kong Locations: China, Hong Kong, Foshan, Guangdong, Zhenjiang, China's, Jiangsu, United States, Evergrande, Beijing, Fuyang, Anhui
The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Smaller Chinese cities, whose revenues have already been deteriorating, could have a glut of unfinished homes, a social problem Beijing is trying to avoid. But as China's economy started slowing during and after its COVID-19 lockdowns, property sales in those areas has plummeted along with values of the homes themselves. Country Garden's sales in 2020 were 570.7 billion yuan ($78.22 billion), but that slipped to 357.5 billion yuan in 2022. Country Garden has nearly 1 million homes to complete, according to estimates from Japanese investment bank Nomura.
Persons: Aly, HONG KONG, Oscar Choi, Yang Huiyan, Lu Ting, Nomura, Gerwin Bell, Clare Jim, Liangping Gao, Matt Tracy, Davide Barbuscia, Christian Schmollinger Organizations: Shanghai Country Garden, REUTERS, Country, HK, National Bureau, Statistics, Partners Capital, China Evergrande, Oxford Economics, Nomura, Thomson Locations: Shanghai, China, HONG, Beijing, Dezhou, Hong Kong, Asia, Washington, New York
The warning is a "prelude to an ultimate credit event," paving the way for debt restructuring, per JPMorgan. Country Garden racked up 1.4 trillion Chinese yuan, or almost $200 billion, in liabilities at the end of 2022. It also faces 7.8 billion Chinese yuan, or $1.1 billion, in payments for notes and bonds in September. Another analyst feels Country Garden could restructure if it's unable to raise cash in time. Country Garden and CICC did not immediately respond to requests from Insider for comment.
Persons: JPMorgan Chase, Karl Chan, Nicholas Chen, CreditInsights, Chen, Iris Chen, Yang Huiyan, CICC Organizations: JPMorgan, Service, Garden, China International Capital Corporation, Reuters, Nomura, Bloomberg, Hong Locations: Wall, Silicon, China, Hong Kong, Beijing
Country Garden, a massive Chinese property developer, missed interest payments on two dollar bonds this week. On Friday, Yang could receive $28 million in dividends from her personal stake in Country Garden's services unit, according to Bloomberg calculations. Most of her wealth comes from a 52.60% stake in Country Garden Holdings, Insider previously reported. Country Garden did not respond to a request for comment from Insider. Hong Kong-listed Country Garden Holdings shares are down 6% to 98 Hong Kong cents apiece at last check.
Persons: Yang Huiyan, Yeung Kwok, Yang Guoqiang —, Yang, Hui Ka Yan, JPMorgan Chase, Iris Chen, Chen Organizations: Bloomberg, Service, Garden Holdings, Hong, JPMorgan, Nomura, . Locations: Wall, Silicon, Beijing, Hong Kong, . Hong Kong
Country Garden warned investors in a Hong Kong stock exchange filing Thursday that it would likely record a loss of 45 billion to 55 billion Chinese yuan (about $6.2 billion to $7.6 billion) for the six months through June. The disclosure lays bare the financial woes currently facing Country Garden, a massive builder of hundreds of thousands of homes annually across China. Country Garden did not immediately respond to a request for comment. As of early afternoon in Hong Kong Friday, its stock had reached a record low of 95 Hong Kong cents, below its previous low of 98 Hong Kong cents reached in October 2008. Cash crunchEarlier this week, Country Garden stoked concerns by missing two bond payments, according to analysts.
Persons: ” Morningstar, Jeff Zhang, Kaven Tsang, , Zhang, Morningstar, Yang Huiyan, Yang, won’t, Moody’s, Fang xing, ICHPL, Alfredo Montufar, Organizations: Hong Kong CNN, Garden, CNN, Hong, China’s, , Hong Kong, Bloomberg Locations: Hong Kong, China, Foshan, Guangdong province, Real
Country Garden, a massive Chinese property developer, missed interest payments on two dollar bonds this week. However, it's the scale of Country Garden's projects that is a big warning signal for the Chinese real estate sector and the wider economy. Evergrande faced a liquidity crisis in 2020, prodding it to try to halve its around $100 billion debt by mid-2023. These efforts were scuppered by a slowdown in China's property sector and regulators' efforts to put brakes on property developers borrowing excessively. However, putting the brakes on borrowing started sending the property sector into a crisis.
Persons: Kristy Hung, Yang Guoqiang, Yang Huiyan, Yang, Moody's, Sandra Chow, Evergrande, Huileng Tan Organizations: Service, Bloomberg Intelligence, Hong Kong Stock Exchange, CNN, China Index Academy, Reuters, Pacific Research, New York Times, Caixa Bank Locations: Beijing, Wall, Silicon, China, Evergrande, Foshan, Asia, Pacific, CreditSights
The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. For the first half ended June 30, the company estimates its net loss between 45 billion yuan ($6.24 billion) and 55 billion yuan, it said in its preliminary report. This compares with a net profit of 1.91 billion yuan a year earlier. It achieved attributable sales of 140.8 billion yuan from January to July 2023, down 35% from a year ago. ($1 = 7.2068 Chinese yuan renminbi)Reporting by Roushni Nair in Bengaluru; Editing by Shweta Agarwal and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons: Aly Song, Yang Huiyan, Roushni Nair, Shweta Agarwal, Shailesh Organizations: Shanghai Country Garden, REUTERS, HK, Thomson Locations: Shanghai, China, Bengaluru
Yang Huiyan, the chair of Chinese property giant Country Garden, lost about $29 billion of her wealth since June 2021. These losses come as Country Garden missed interest payments on two US-dollar-denominated bonds, according to various media reports, including a Reuters report on Wednesday. Yang — who became China's richest woman at 25 after the company's IPO — lost the spot of Asia's richest woman in August 2022 to Savitri Jindal. Jindal is India's richest woman and chairperson emeritus of the Indian conglomerate O.P. Country Garden and Yang Huiyan did not respond to requests for comment sent by Insider.
Persons: Yang Huiyan, Yang Huiyan —, , Yang —, Yang, Savitri Jindal, Jindal Organizations: Bloomberg, Service, Reuters, Ohio State University, New York Times, Jindal Group, Country Locations: Wall, Silicon, Foshan, Hong Kong
And despite the fact that this ancient plant is one of the fastest-evolving species of moss known to science, it may not survive the climate crisis. The researchers embarked on multiple expeditions in the Himalayas to study Takakia moss. As the local temperature average increased each year, the population of Takakia moss decreased by 1.6% annually, the study authors noted. Takakia may die because of climate change, but the other mosses will survive, even if we humans cannot. Takakia may die because of climate change, but the other mosses will survive, even if we humans cannot.
Persons: , Ralf Reski, Ruoyang Hu, , Takakia, ” Reski, Yikun, ” Hu, don’t Organizations: CNN, University of Freiburg, Capital Normal University, Locations: Tibetan, Japan, United States, Germany, Takakia, China, Tibet
Country Garden, once China’s largest developer, missed interest payments on two US dollar-denominated bonds, reports said Tuesday, troubling investors as China’s sinking property sector takes yet another hit. CNN has reached out to Country Garden for comment. Collapse in confidenceState-owned media outlet Paper.cn, citing an anonymous company source, reported that Country Garden suffered “temporary liquidity pressure” due to deteriorating sales and a difficult refinancing environment. Country Garden still has a 30-day grace period before would be labeled as a defaulter. Country Garden hit the public market in 2007 with a record-setting, headline-grabbing $1.7 billion IPO in Hong Kong.
Persons: New York CNN — Yang Huiyan, , China’s, Yang, Yang Guoqiang Organizations: New, New York CNN, Bloomberg, CNN Locations: New York, Hong Kong
Yang Guoqiang, founder of Country Garden, attends a signing ceremony in November 2017 in Guangdong province. VCG/Getty ImagesThe elder Yang was a farmer and construction worker before he founded Country Garden in 1992. In little more than a decade, he grew the firm into one of the largest real estate developers in the country. Last year, Country Garden was China’s No 1 developer by sales, which reached $67 billion. An aerial view of a residential project developed by Country Garden in Zhenjiang city in eastern China's Jiangsu province in October 2021.
The next few months could therefore find more developers starting to miss offshore debt obligations, while many developers that have already defaulted will continue struggling to pin down a restructuring plan for viable long-term repayments. This year, Chinese developers' maturing offshore debt will total $141 billion, up from $120.7 billion in 2022, Refinitiv data showed. Since November, it has completed two rounds of share placements in Hong Kong, raising HK$8.6 billion ($1.10 billion). An executive at a developer that has defaulted on offshore debt said the company would speed up its debt restructuring process this year as onshore banks have offered to extend new loans once a revamp is complete. ($1 = 7.8194 Hong Kong dollars, 6.7810 Chinese yuan renminbi)Reporting by Clare Jim; Editing by Sumeet Chatterjee and Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.
China's super-rich see fortunes plunge as economy slows
  + stars: | 2022-11-08 | by ( Brenda Goh | ) www.reuters.com   time to read: +2 min
Nov 8 (Reuters) - China's super-rich saw their wealth tumble by the most in over two decades this year, as the Russia-Ukraine war, Beijing's zero-COVID measures and falling mainland and Hong Kong stock markets pummelled fortunes, an annual rich list said on Tuesday. The Hurun Rich list, which ranks China's wealthiest people with a minimum net worth of 5 billion yuan ($692 million), said only 1,305 people made the mark this year, down 11% from last year. "This year has seen the biggest fall in the Hurun China Rich List of the last 24 years," said Rupert Hoogewerf, chairman and chief researcher of research firm Hurun Report which compiles the list. The founder of TikTok owner ByteDance, Zhang Yiming, took second place, but saw his wealth fall 28% to $35 billion due to a drop in ByteDance's valuation. Tencent founder Pony Ma posted the second largest drop in wealth of $14.6 billion amid sliding tech stock prices, to take fifth place on the list.
China’s super-rich saw their wealth tumble by the most in over two decades this year, as the Russia-Ukraine war, Beijing’s zero-Covid measures and falling mainland and Hong Kong stock markets pummeled fortunes, according to an annual rich list. Tencent founder Pony Ma posted the second largest drop in wealth amid sliding tech stock prices. The founder of TikTok owner ByteDance, Zhang Yiming, took second place, but saw his wealth fall 28% to $35 billion due to a drop in ByteDance’s valuation. Tencent (TCEHY) founder Pony Ma posted the second largest drop in wealth of $14.6 billion amid sliding tech stock prices, to take fifth place on the list. Alibaba (BABA) founder Jack Ma and his family tumbled four places to be ranked No.
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Persons: Francoise Bettencourt Meyers, L’Oreal . Ea, . Alice Walton, Alice Walton, Sam Walton, Rob, Jim ., MacKenzie Scott, Jeff, Julia Koch, David, Koch, Adolfo, Nancy Reagan, Miriam Adelson, Sheldon Adelson, Jacqueline Mars, Ea, Audrey Ruth, Meyer, Forrest Mars, Frank C ., Inc, Yang, Susanne Klatten, Klatten, Herbert Quandt, Gina Rinehart, Rinehart, Lang Hancock, Hancock, Hill, Fontbona, Andrónico, Jean, Paul, Guillermo Luksic Organizations: Forbes, Artă Americană, Bridges, MacKenzie, Koch, Las, Frank C . Mars, Mars, Country Garden Holdings, Bright, Education Holdings, BMW, Iris, Antofagasta Plc Locations: Bentonville, Arkansas, Iowa, New York, Las Vegas, Singapore, Macao, americană, China, Germania, Australia, Asia, Antofagasta, Chile, Londra
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