Chinese Developer Troubles Deepen as Dexin Gets Liquidated [Yahoo! Finance Canada]
COUNTRY GARDEN HL UNS/ADR (CTRYY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg Dexin China Holdings Co. received the order Tuesday, three months after a petition was filed by China Construction Bank (Asia), and a year and half after it defaulted. A new restructuring plan was approved last year, though the developer, which builds residential as well as commercial buildings, wasn't able to keep up with that either. ADVERTISEMENT Hong Kong has served as a gateway for investors to access mainland issuers' high-yield offshore bonds. But that has also made it an epicenter of the yearslong downturn in China's property sector, which continues to dog the country's economy. The liquidation order shows lingering distress despite fresh attempts from the Chinese government to help the industry recover. Dexin joins a group including Jiayuan International Group Ltd, and China Evergrande Group that have received such orders from courts in Hong Kong in the past couple of years. This isn't the last one, either — a number of major developers inclu
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