China property giant Country Garden stocks slump to record low, Beijing - 14 Aug 2023
A general view of a construction site of residential buildings developped by Country Garden in Beijing, China, 14 August 2023. China's largest private developer, Country Garden, saw its shares drop to a record low of HK$0.81, a 17% decrease in afternoon trading. The company announced last week that it could suffer a loss of up to $7.6bn for the first half of the year. Over the weekend, Country Garden revealed that it would halt trading in 11 of its onshore bonds from 14 August.