Chinese property developer Country Garden has postponed the launch of a US dollar bond, the latest sign of growing concern about the health of one of China’s most important sectors.
The Hong Kong-listed company met investors during the past two weeks to gauge appetite for a deal, after announcing its plans to raise fresh debt in a filing to the stock exchange last month. But management has chosen not to press ahead with a deal at this time, say people familiar with the matter.
The Chinese property sector has come under more and more scrutiny from investors and economists in recent days as data point to a sharp deterioration in the housing market.
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