After Country Garden debt deal, focus shifts to China property recovery prospects

After Country Garden debt deal, focus shifts to China property recovery prospects

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’s deal with creditors for an extension on onshore debt payments worth 3.9 billion yuan ($537 million) has brought the developer and China’s crisis-ridden property sector some much-needed respite.