SHANGHAI/HONG KONG -- Debt-laden Country Garden Holdings will cut the salaries of its chair and other executives to 120,000 yuan ($16,700), the Chinese property developer has announced.
China debt crunch
Chinese billionaire, other Country Garden execs cut pay to $16,000
Struggling developer makes onshore bond repayment as it restructures debt
Country Garden, China's biggest property developer, has averted a yuan debt default with a payment to bondholders. © Reuters
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