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Distressed Chinese property developer downplays the possibility of a liquidation after it hired the financial advisory firm to assess the amount of money creditors could recover in such an event.
Embattled property developer Country Garden said it is injecting funds into an unfinished skyscraper project by introducing a new partner, an announcement which sent its shares soaring.
During China’s National People’s Congress last week, officials from some of the country’s most indebted provinces met with leading state banks to negotiate debt repayments on billions of dollars of liabilities.
European stocks ended Wednesday's session in mixed fashion as investors stayed cautious ahead of a US inflation reading on Thursday, while shares in French call centre operator Teleperformance and UK wealth manager St James's Place both tanked.
(Bloomberg) -- Country Garden Holdings Co.’s debt crisis is entering a new chapter, after a creditor filed a winding-up court petition in Hong Kong that adds pressure on the Chinese developer to quicken its restructuring efforts. Most Read from BloombergApple to Wind Down Electric Car Effort After Decadelong OdysseyA Spike in Heart Disease Deaths Since Covid Is Puzzling ScientistsOffice Tower Deal for $1 Reveals Anxiety Among Longtime BuyersNigeria Delivers Jumbo Rate Hike to Aid Its Battered Na