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The Guardian - AU
The Guardian - AU
World
Staff and agencies

Chinese developer Country Garden reports $6.7bn loss amid fears of another Evergrande

Country Garden Evergrande China
a logo of Chinese property developer Country Garden on top of a building in Zhenjiang in China's eastern Jiangsu province.
Chinese property developer Country Garden has posted half-year losses of $6.7bn, and faces significant deadlines for debt repayments next month. Photograph: AFP/Getty Images

Embattled Chinese developer Country Garden reported a 48.9bn yuan ($6.7bn) loss for the first half of the year in a stock exchange filing on Wednesday, adding to worries of a potentially catastrophic default.

Its tenuous state has sparked fears of a collapse that could have far-reaching consequences for the Chinese financial system two years after the fall of Evergrande.

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