China’s Country Garden narrowly avoids default: Bloomberg

Struggling Chinese developer Country Garden has made multi-million-dollar interest payments on two outstanding loans, reports said Tuesday, narrowly avoiding what would have been its first default. The firm in August said it was unable to make the payments, worth $22.5 million, and was given a 30-day grace period. That grace period was due to end either […]

august bloomberg business china chinese default developer economy garden grace interest loans payments period property reports tuesday