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Country Garden (HK) missed two coupon payments to bondholders: 8/8/23
This is big. I can't even think about investing in mainland China, nor Hong Kong, given the curtailment of civil and human rights being forced upon Hong Kong by Beijing. I just read a news report that a guy is being arrested for just putting a protest song on the internet. I was in HK in 2018. Much worse, even since then. https://www.channelnewsasia.com/business/china-country-garden-missed-bond-two-dollar-coupons-3684971
Direct investment liabilities – a key measure of foreign direct investment (FDI) in China – plummeted 87pc to $4.9bn between April and June. This was the lowest amount in any three-month period since at least 1998, according to the State Administration of Foreign Exchange.
The true investment numbers are in fact likely to be far worse, says Magnus, as official figures include Hong Kong.
China is about to discover that Xi Jinping is no Warren Buffet. Buffet buys companies and then leaves them alone to run themselves; Xi thinks that he can run anything and everything. The Chinese economy is going to be interesting to watch over the next few years.
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https://finance.yahoo.com/news/end-made-china-crippling-world-050000386.html