China’s Country Garden Has ‘Given Debt Rejig Plan to Creditors’

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China’s Country Garden Has ‘Given Debt Rejig Plan to Creditors’ - Asia Financial

Quick Summary:

Sources say the country's biggest developer has given a revised debt-restructuring plan to some foreign creditors; it had total debt of close to $190 billion last year The post China’s Country Garden Has ‘Given Debt Rejig Plan to Creditors’ appeared first on Asia Financial.

China’s new home prices fell the most year-on-year in October since 2015, while property investment declined 10.3% in the first 10 months of 2024, official data showed on November 15, suggesting the support measures have had little impact so far.

The projection shows the developer expects a weaker cash flow in coming years, compared with the estimates it had shared with some offshore creditors earlier in 2024, two of the sources said.