China’s biggest property developer sees first annual loss since 2007 | The Malaysian Insight

China’s biggest property developer sees first annual loss since 2007

China’s largest property developer Country Garden blames its 2022 loss on a harsh winter and the continued impact of Covid-19. – EPA pic, March 30, 2023.

CHINESE property giant Country Garden reported its first annual loss in 15 years today, blaming persistent headwinds in the property market and the Covid-19 pandemic. China’s property sector has been weakened by a slowing economy and a regulatory crackdown in recent years that narrowed developers’ access to credit.

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