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BizTech

Country Garden avoids default after making overdue payments

Shares in Chinese property developers have led gains on the Hong Kong Stock Exchange this week, amid growing optimism around the country's embattled sector. Evergrande stock surged 125 percent over the past 5 days, while Country Garden shares were up around 20 percent after it averted a default at the very last minute. Beijing has also unveiled a series of new measures to boost home sales, as it looks to arrest an economic slowdown. Omer Bakkaloglu reports.

September 11, 2023