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China’s real estate market roiled by default fears again, as Country Garden spooks investors



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Pictured here are residential buildings developed by Country Garden Holdings Co. in Baoding, Hebei province, China, on Tuesday, Aug. 1, 2023.Qilai Shen | Bloomberg | Getty ImagesBEIJING — Two years after Evergrande’s debt troubles, worries about China’s real estate sector are coming to the forefront again. Country Garden, one of the largest non-state-owned developers by sales, has reportedly missed two coupon payments on dollar bonds that were due Sunday. Citing the firm, Reuters said the bonds in question are notes due in February 2026 and August 2030.Country Garden did not immediately respond to CNBC’s request for comment on the reports.Meanwhile, Dalian Wanda saw its senior vice president Liu Haibo taken away by police after the company’s internal anti-corruption probe, Reuters reported Tuesday, citing a source familiar with the matter. Dalian Wanda did not immediately respond to a CNBC request for comment.Hong Kong-listed shares of Country Garden closed more than 1.7% lower on Wednesday, after sharp declines earlier in the week.”With China’s total home sales in 1H23 down year-on-year, falling home prices month-on-month across the past few months and faltering econom …

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