BEIJING: Shares in Chinese property giant Country Garden plunged on Monday after it missed bond payments and warned of multibillion-dollar losses, deepening concerns over the nation's heavily indebted real estate sector.
SHARP DROP This photo taken on June 15, 2023 shows the headquarters of China’s developer Country Garden Holdings in Foshan, in China’s southern Guangdong province. Shares of the property giant Country Garden plunged on Monday, Aug. 14, 2023 after issuing a warning of multibillion-dollar losses. AFP PHOTO