Sunac, Country Garden debt deals bring relief to China's property sector

Sunac, Country Garden debt deals bring relief to China's property sector

FILE PHOTO: People on a property tour visit a show flat of a real estate property developed by Sunac China Holdings in Xishuangbanna Dai Autonomous Prefecture, Yunnan Province, China, June 22, 2019. Picture taken June 22, 2019. REUTERS/Lusha Zhang/File Photo

Chinese developers Sunac and Country Garden brought some relief to the crisis-hit property sector by forging debt deals with creditors, but the outlook remained clouded by uncertainty about a recovery in home sales.