{"id":10222,"date":"2023-12-12T12:05:25","date_gmt":"2023-12-12T12:05:25","guid":{"rendered":"https:\/\/imsfund.com\/?p=10222"},"modified":"2023-12-12T12:05:25","modified_gmt":"2023-12-12T12:05:25","slug":"china-developer-country-garden-reportedly-set-to-avoid-yuan-bond-default","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2023\/12\/12\/china-developer-country-garden-reportedly-set-to-avoid-yuan-bond-default\/","title":{"rendered":"China developer Country Garden reportedly set to avoid yuan bond default"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107346246\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>The East China headquarters of Country Garden is being shown in Zhenjiang, Jiangsu Province, China, on October 10, 2023.<\/p>\n<p>Nurphoto | Nurphoto | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Embattled Chinese real estate developer <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/2007-HK\/\">Country Garden<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> may avoid a default on its yuan-denominated bonds after most holders of\u00a0a local note\u00a0agreed not to demand repayment this week, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-12-12\/country-garden-set-to-avoid-yuan-bond-default-after-holder-deal\" target=\"_blank\" rel=\"noopener\">according to Bloomberg News<\/a>.<\/p>\n<p>During a meeting at the Shenzhen Stock Exchange last week, most investors agreed to forego a put option expiring Dec. 13 that allows investors to demand repayment before maturity next year, the news outlet reported Tuesday, citing unnamed people with direct knowledge of the matter.<\/p>\n<p>The report came after markets in Hong Kong and mainland China closed. Country Garden shares in Hong Kong closed higher by more than 8% on Tuesday, prior to the news.<\/p>\n<p>CNBC has reached out to the company for comment.<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107320806\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107320806\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000320577\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107324654-1698429650915-gettyimages-527515296-qs110816ordos123.jpeg?v=1698429910&amp;w=750&amp;h=422&amp;vtcrop=y\" alt=\"Does China's real estate crisis put the global economy at risk?\"\/><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Country Garden was once the largest non-state-owned developer in China by sales. It ran into financing troubles this year, and\u00a0<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-25\/country-garden-default-on-dollar-bond-declared-for-first-time\" target=\"_blank\" rel=\"noopener\">defaulted on a U.S. dollar bond<\/a>\u00a0last month, according to Bloomberg.<\/p>\n<p>Economic growth in China has been sluggish due in part due to serious debt problems that some of the largest real estate developers are facing, as Beijing moves to <a href=\"https:\/\/www.cnbc.com\/2023\/08\/18\/chinas-property-troubles-worsen-ramping-calls-for-bolder-policy-help.html\">deleverage its once-bloated property sector<\/a>\u00a0\u2014 which accounts for about 33% of its economy.<\/p>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2023\/12\/12\/china-developer-country-garden-reportedly-set-to-avoid-yuan-bond-default.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The East China headquarters of Country Garden is being shown in Zhenjiang, Jiangsu Province, China, on October 10, 2023. Nurphoto | Nurphoto | Getty Images Embattled Chinese real estate developer Country Garden may avoid a default on its yuan-denominated bonds after most holders of\u00a0a local note\u00a0agreed not to demand repayment this week, according to Bloomberg [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":10223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107346246-1702370757817-gettyimages-1797515263-cfoto-eastchin231123_nprXO.jpeg?v=1702370799&w=1920&h=1080","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-10222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/10222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=10222"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/10222\/revisions"}],"predecessor-version":[{"id":10224,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/10222\/revisions\/10224"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/10223"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=10222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=10222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=10222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}