Country Garden faces liquidation petition in another blow to China's property sector

Country Garden faces liquidation petition in another blow to China's property sector

FILE PHOTO: The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. REUTERS/Aly Song/File Photo

Country Garden Holdings said on Wednesday a liquidation petition has been filed against the embattled developer for non-payment of a loan worth $205 million, adding to the woes for China’s liquidity crisis-hit property sector.

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