About our Country Garden news
Latest news on Country Garden, a Chinese property development company that ranked 206th in Fortune Global 500 list of 2023. It was founded by Yang Guoqiang in 1992 and is now owned by his daughter Yang Huiyan, who is the richest woman in Asia. The company has projects in China, Malaysia, Australia and other countries. It is known for its high-end township developments, as well as its services in property and facilities management, hotel management and education.
However, Country Garden is also facing financial difficulties due to the debt crisis in China's property sector. It missed two dollar bond payments in August 2023 and has a grace period until early September to avoid default. The company's sales were down by 60% in July 2023 compared with 2022. The company is also under investigation by China's securities regulator for suspected disclosure violations.