Country Garden said that its operations were stable and orderly and that they were dealing with “false comments” on social media by legal means. The developer also said that it has regular communications with local governments and financial institutions, and they continue to be supportive of the company. Country Garden, which was considered among the top-tier and most stable Chinese developers has now seen its bonds plummet to less than 20 cents on the dollar, underscoring the deep distress and negative sentiment in the sector.
Country Garden Says Its Operations are Stable
