Country Garden is a pillar of the Chinese property sector. But for how much longer?
Shares in the firm hit a record low on Friday with fears rising that the company is preparing for a debt restructuring.
Country Garden had total liabilities of about $194 billion at the end of 2022.
Chinese media, Yicai, reported, citing unnamed sources, that Country Garden is expected to begin a restructuring process soon.
In addition to stock market impacts the news didn't help the AUD either. Update:
