(Bloomberg) — Country Garden Holdings Co.’s sales slid again in June, with the developer faring worse than peers, as a lack of policy support dampened demand. Monthly contracted sales at the Foshan-based company dropped 35% from a year earlier to 2.81 billion yuan ($392 million), according to Bloomberg calculations based on a Friday filing. The decline was from an already low base, and was steeper than the 23% drop in new home sales for China’s top 100 developers. Falling prices in China are eroding corporate profits and employee income, leading to suppressed demand for housing purchases, just as the effects of a stimulus blitz last September start to wear off. Premier Li Qiang last month pledged more action to revive the market, which analysts say is necessary to boost consumption and offset a threat to exports from US tariffs. Country Garden has been counting on a turnaround in sales as it seeks to restructure its debt after a default more than a year ago. Yet its efforts to win backing for a $14.1 billion offshore restructuring are running into resistance as a key group of banks said failure to accept some of their demands would be a “deal breaker,” according to a court hearing last month. The builder needs support from three-quarters of debt holders among two individual groups — bank lenders and bondholders. It has said that it has backing from holders of 70% of bonds, but even if it gets more from that class, it still needs bank creditors to get on board to pass the plan through a “scheme of arrangement” procedure. It has been given a few months’ reprieve from its liquidation petition hearing, with the next one set for Aug. 11. Country Garden has said it aims to implement the proposed restructuring by the end of 2025 and wants to reach an agreement with its major creditors on the terms “as soon as practicable.” –With assistance from Foster Wong. More stories like this are available on bloomberg.com ©2025 Bloomberg L.P. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Country Garden’s future appears bleak as its sales continue to decline significantly in June.
