Yang Huiyan, the richest woman in China, recently sold about 7 per cent of her stake in Country Garden Services Holdings, cashing out about HK$5.055 billion (approx. $660 million). The share price fell nearly 16 percent the next day. The “2022 Hurun Women Entrepreneurs List,” released on Dec. 12, ranked Yang as China’s richest woman…
Chinese Real Estate Giant Country Garden Downgraded to ‘Hold’ with Debts Risks
China’s largest private-sector developer, Country Garden (02007.HK), was recently downgraded from investment level due to its sluggish cash flow, closing to a debt default. The real estate giant has launched several rounds of self-help efforts since last year, including cutting the annual salary of its founder by 97 percent. HSBC Research in an October report…
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