HONG KONG -- Top mainland Chinese property developers recorded close to $3 billion in foreign exchange losses, mainly on their U.S.-dollar borrowings, during the first half of the year as the yuan dropped further against the greenback, adding pressure to their struggle to secure cash to service mounting debts.
Country Garden Holdings reported over 3 billion yuan in net foreign exchange loss, contributing to a record half-year net loss of 48.93 billion yuan. (NIKKEI montage/Source photos by Reuters)
Market Spotlight
China's top developers lost close to $3bn due to weakened yuan
U.S.-dollar indebted Evergrande, Sunac and Country Garden head the list
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