{"id":57662,"date":"2023-08-18T22:25:43","date_gmt":"2023-08-18T13:25:43","guid":{"rendered":"https:\/\/www.theguardian.com\/world\/2023\/aug\/18\/china-property-crisis-deepens-as-developer-country-garden-at-risk-of-default-evergrande"},"modified":"2023-08-19T00:26:09","modified_gmt":"2023-08-18T15:26:09","slug":"chinas-property-crisis-deepens-as-developer-country-garden-at-risk-of-default","status":"publish","type":"post","link":"https:\/\/eastasianews.net\/wp\/?p=57662","title":{"rendered":"China\u2019s property crisis deepens with developer Country Garden at risk of default"},"content":{"rendered":"<p>Evergrande has filed for bankruptcy protection and firms covering 40% of Chinese home sales have defaulted<\/p>\n<p>China\u2019s property crisis has deepened with two major developers facing severe financial difficulties that threaten to send shock waves through the country\u2019s economy and beyond.<\/p>\n<p>Evergrande, the poster child for the woes of China\u2019s property sector, <a href=\"https:\/\/www.theguardian.com\/business\/2023\/aug\/18\/chinas-struggling-property-giant-evergrande-files-for-bankruptcy-protection-in-us\">filed for chapter 15 bankruptcy protection<\/a> in New York on Thursday. The provision permits the company to protect its US assets and will allow cross-border bankruptcy proceedings as it undergoes a restructuring.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/world\/2023\/aug\/18\/china-property-crisis-deepens-as-developer-country-garden-at-risk-of-default-evergrande\">Continue reading&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Evergrande has filed for bankruptcy protection and firms covering 40% of Chinese home sales have defaultedChina\u2019s property crisis has deepened with two major developers facing severe financial difficulties that threaten to send shock waves through the &#8230;<\/p>\n","protected":false},"author":3586,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sns_share_botton_hide":"","vkExUnit_sns_title":"","_vk_print_noindex":"","sitemap_hide":"","_veu_custom_css":"","veu_display_promotion_alert":"","vkexunit_cta_each_option":"","footnotes":""},"categories":[41,6,50,556,437,2370,1219],"tags":[],"class_list":["post-57662","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-business","category-china","category-chinese-economy","category-economics","category-evergrande","category-real-estate"],"veu_head_title_object":{"title":"","add_site_title":""},"_links":{"self":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/57662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/users\/3586"}],"replies":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57662"}],"version-history":[{"count":2,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/57662\/revisions"}],"predecessor-version":[{"id":57668,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/57662\/revisions\/57668"}],"wp:attachment":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}