HONG KONG -- Embattled Chinese property developer Country Garden Holdings' contracted sales in 2023 plunged to less than half the previous year's level, with a sharp dip in December underscoring the dire situation facing the company.
China debt crunch
Country Garden's sales in 2023 less than half previous year's
Sharp dip in December points to ongoing woes for Chinese developer
Country Garden Holdings announced that its annual contracted sales last year were cut in half from a year ago, while its December figure dipped close to 70% year on year. © Reuters
Read Next
Latest on China debt crunch
