You know things are bad when a former Steady Eddy is buckling at the knees. Country Garden, China’s largest and previously safest property group, has reported a 96 per cent drop in earnings. This has worrying implications for investors. Net profits fell to Rmb612mn ($88mn) in the first half, the biggest decline since Country Garden listed in 2007. The group’s fortunes mirror China’s economic health more accurately than peers. The company specialises in homes for mid to lower income people and avoids high-risk projects.
當原來的“中流砥柱”都站不穩時，你就知道情況真的很糟了。中國最大、曾經最安全的房地產企業碧桂園(Country Garden)報告稱，歸屬股東凈利潤同比下降96%。這對投資者而言是令人擔憂的信號。
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