Country Garden is a property development company based in Guangdong, China, owned by Yang Guoqiang's family. It ranked 206th in Fortune Global 500 list of 2023. Country Garden features a market capitalization of over US$29.84 billion as of 2018; with 187 high-end township developments throughout China, Malaysia and Australia among its vast international project portfolio. The company is incorporated in the Cayman Islands. Its headquarters are in the town of Beijiao, in Shunde District, Foshan. In October 2023, the company announced that it was unable to fulfill its offshore debt obligations and was subsequently deemed in default on approximately US$11 billion of bonds, making it another victim of the 2020–2023 Chinese property sector crisis. In July 2024, the Hong Kong High Court decided to postpone the hearing of Country Garden’s liquidation petition to January 20, 2025, giving the company some breathing room to finalize its offshore debt restructuring plan. On January 16, 2025, the company presented a proposal to its offshore creditors aimed at reducing $11.6 billion in debt. Wikipedia