Country Garden’s Liquidation Petition Exacerbates China’s Property Challenges: Experts
Winding up petitions are unlikely to be accepted by Chinese courts, experts say.
Unfinished apartment buildings at the Phoenix City residential project, developed by Country Garden Holdings Co., in Shanghai, China, on Jan. 17, 2022. Qilai Shen/Bloomberg via Getty Images
Country Garden, once China’s largest developer, announced on Feb. 28 that a liquidation petition has been launched against it for failing to repay a loan worth nearly $205 million—the latest reminder that China’s housing crisis continues unabated.
Indrajit Basu
Author
Indrajit Basu is a contributor to The Epoch Times.
