Contagion fears spread as China property sector cash crunch intensifies
www.reuters.com
China's largest private real estate developer Country Garden is seeking to delay payment on a private onshore bond for the first time, the latest sign of a stifling cash crunch in the property sector, piling pressure on Beijing to step in.

cross-posted from: https://lemmy.ca/post/3297845

Country Garden, China’s largest private developer, is seeking to delay payment on a private onshore bond for the first time, a source said, after suspending trading in 11 onshore bonds, sending its shares plunging to a record low on Monday.