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An 87% value wipeout for Chinese developers' dollar bonds is symptomatic of the wider crisis facing the nation's property sector, which has seen 53 companies collapse in about two years.
Leading Chinese developer Country Garden avoided a debt-default last week with an 11th-hour coupon payment. But this may have provided only a temporary relief for the Asian nation's ailing property sector.
Leading Chinese developer Country Garden avoided a debt-default last week with an 11th-hour coupon payment. But this may have provided only a temporary relief for the Asian nation's ailing property sector.
An 87% value wipeout for Chinese developers' dollar bonds is symptomatic of the wider crisis facing the nation's property sector, which has seen 53 companies collapse in about two years.