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Chinese property giants hit hard with nearly USD 3 billion in forex losses
Updated : 2 years, 8 months ago IST
The total net foreign exchange losses for 24 of the top 30 mainland listed Chinese developers by contracted sales before the COVID crackdown in 2020 totalled 21.25 billion yuan (USD 2.75 billion) for the first six months of this year.
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Chinese property developer Country Giant warns of USD 7.6 bn loss as it ne
Updated : 2 years, 9 months ago IST
One of China’s biggest property developers, Country Garden, says it has burned through up to USD 7.6 billion in the first half of the year, compounding the crisis coursing through the country’s embattled real estate sector, CNN reported.
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