China’s property sector crisis fuels fears of contagion

BEIJING: Troubled Chinese property giant Country Garden risks defaulting on its bond payments next month, which could have disastrous consequences for the world’s second-largest economy.

The firm’s debt woes come two years after the unravelling of its competitor Evergrande.

Here is why Country Garden’s plight is being closely monitored by markets:

Country Garden was China’s largest private developer in terms of sales last year.

It has extensive operations in small cities, which host about 60 percent of its projects.