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Shares in Chinese property giant Country Garden down sharply
Shares in Chinese property giant Country Garden down sharply
Business and Economy
by  AFP

Shares in Chinese property giant Country Garden plunged on Monday after it missed bond payments and warned of multibillion-dollar losses, deepening concerns over the nation's heavily indebted real estate sector. Like heavily indebted competitor Evergrande, any collapse of Country Garden would have catastrophic repercussions for the Chinese financial system and economy.