Trading in debt-ridden Chinese property developer Country Garden was suspended in Hong Kong on Tuesday (Apr 2), days after it postponed the release of its 2023 results. The firm is
Trading in debt-ridden Chinese property developer Country Garden was suspended in Hong Kong on Tuesday , days after itThe firm is among a number of China's largest developers battered by a crisis in the country's property sector and struggling under a mountain of debt, fuelling concerns about the stability of the world's second-largest economy.
The real estate behemoth on Thursday postponed the expected release of its 2023 results, saying it"needs to collect more information to make appropriate accounting estimates and judgments". Chinese property firms Modern Land, Central China Management and Ronshine China were among several other firms whose shares were also suspended in Hong Kong.
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