HONG KONG -- Last month, China's Communist Party Politburo raised the hopes of investors in the nation's beleaguered property sector, issuing a pronouncement at the end of its July meeting that was widely interpreted as a sign of potential support for distressed developers.
Country Garden Holdings, one of the largest Chinese developers by revenue, said it had missed an August 7 deadline for making $22.5 million in coupon payments on two U.S. dollar-denominated bonds. (Source photo by AP)
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China property woes spread, adding to national economic gloom
Country Garden becomes latest big developer to miss bond payment
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