HONG KONG — A leading developer during China’s boom years, Country Garden Holdings has now taken a place among the largest money losers in the nation and the world, marking another grim milestone in China’s real estate meltdown.
The 178.4 billion yuan ($24.3 billion) net loss for 2023 that Country Garden belatedly reported this week ranks as the second-worst result by a listed Chinese company on record. Only its distressed peer China Evergrande Group has turned in a bigger loss, 476.03 billion yuan in 2021.
