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GUANGZHOU/SHANGHAI — Top Chinese property developer Country Garden Holdings on Wednesday reported a record net loss of 48.9 billion yuan ($6.71 billion) for the six months through June, a new sign of how its strategy of building homes and schools together has crumbled under government pressure.
The company is the latest big property group to have its struggles with weak cash flow surface in China’s slumping real estate market, after peer China Evergrande.
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