Trading of indebted developer Country Garden suspended in Hong Kong

FILE - This aerial photo taken on Oct. 31, 2021, shows the logo of Chinese property developer Country Garden on top of a building in Zhenjiang in China's eastern Jiangsu province. Trading in shares of Country Garden was suspended on April 2, 2024, in Hong Kong.

Trading in shares of Chinese property developer Country Garden was suspended Tuesday in Hong Kong, amid financial woes stemming from the ongoing Chinese housing crisis. The announcement came days after the company, which used to be one of China’s biggest developers, postponed the release of its 2023 annual results.