Lates News

On May 9th, Country Garden Group held its monthly management meeting. Recently, the controlling shareholder of Country Garden Group pledged all of its shares of Country Garden Services as collateral to borrow 1 billion yuan, which will be directed towards the construction of affordable housing in China. The Chairman of the Board of Directors, Yang Huiyan, stated that this is a significant and decisive decision. Selling the pot and the iron to build affordable housing quickly and restore the normal operation of the company is the founder and controlling shareholder's firm goal. We are confident that the company will be able to resume normal operations. It was also revealed at the meeting that the overseas debt restructuring of Country Garden is progressing in an orderly manner. As of May 9th, according to the announcement, more than 50% of the holders of existing public notes have already joined the restructuring support agreement.