Tag: $Country Garden

China’s largest property developer failed to repay a loan and expects to miss more international debt obligations. Country Garden has moved closer to a default that could ripple through the financial system of the world’s second-largest economy.

Embattled Chinese property developer Country Garden  faces yet another liquidity test with Monday’s deadline to pay $15 million in interest linked to an offshore bond, after having dodged default at the last minute twice this month.