China debt crunchChina's Country Garden pays dollar-bond coupons, avoids default
But future payments in doubt as housing market and economy still weak
A development by Country Garden in Nanjing, Jiangsu province. The property company has staved off a default by paying the coupons on two dollar-bonds in time. © Getty Images
ECHO WONG, Nikkei staff writer
September 5, 2023 19:26 JST
HONG KONG -- Chinese real estate developer Country Garden Holdings made coupon payments on two U.S. dollar bonds ahead of a 30-day grace period deadline on Tuesday, avoiding a default that would have further pressured the nation's ailing property sector.