Hang Seng: China property developer Country Garden to suspend onshore bond trading

<p>I posted earlier on the resurgence of worry over the Chinese property sector:</p><ul><li><a href="https://www.forexlive.com/news/hang-seng-worry-fears-a-huge-chinese-property-company-preparing-for-a-debt-restructuring-20230813/" target="_blank" rel="follow" data-article-link="true">Fears a huge Chinese property company preparing for a debt restructuring</a></li></ul><p>Over the weekend China's Country Garden announced it'd be suspending trading of onshore bonds from Monday.</p><ul><li>will
suspend trading of its 11 onshore bonds from Monday</li><li>a resumption of trading of the bonds will be determined at a
later date, the company said in filings to the Shenzen stock exchange</li></ul><p>Country Garden said on Tuesday last week it had not paid two dollar
bond coupons due on August 2, totalling US$22.5 million. And added on Thursday that it could report a loss of up to $7.6 billion for H1 2023.</p><p>Country Garden is China's top private property developer</p><ul><li>had liabilities totalling about US$194
billion at the end of 2022</li><li>has set up a special working group led by its
chairman to handle the current "difficulties", according to the
company's filings</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.