Chinese property giant Country Garden denied Thursday its founder and chairwoman had fled the country, as the debt-saddled builder flirts with a default that could send shockwaves through the industry.
One of China's biggest developers, Country Garden has racked up debts estimated at 1.43 trillion yuan as of the end of 2022.
"This rumour was posted with ulterior motives on multiple online platforms, causing a negative impact," the firm said in an online statement.Yang Huiyan took over as chair of Country Garden in March after her father stepped down from his position on the board. Country Garden was due Wednesday to repay $15.4 million in interest but had not given an official indication of whether it had done so by Thursday morning.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
David Kramer’s ‘Karoo Kitaar Blues’ – one magical night in the ‘promised garden’I witnessed what has become one of my career highlights. A truly authentic evening of music – the ‘Karoo Kitaar Blues’.
Read more »
Elections in Poland prove the country follows path of populism and chaosSouth Africa Today, News source, provides breaking news on South Africa, world, Africa, sport, travel and more.
Read more »
'The country is not running out of money, but fiscal discipline is key,' says Ramaphosa'The country is not running out of money, but fiscal discipline is key,' says Ramaphosa
Read more »
Chinese envoy heads to Middle East in bid to contain warAfrica's Best Read
Read more »
South Africa’s failed TRANSNET costs country R1 billion per dayExperts say South Africa’s failed Transnet railway infrastructure reduced our economic growth by as much as 10% in 2023.
Read more »
South Africa a Water-Stressed Country - 40th Driest in the WorldWater is a basic human need and a fundamental resource essential to our existence. Challenges brought about by its scarcity remind us how it sustains our world. Lacking access to clean, reliable water sources, communities face challenges.
Read more »