Chinese Property giant Country Garden Holdings has missed a HK$470 million ($60 million) loan repayment and warned that it may not be able to repay all of its creditors. The company has about $200 billion in liabilities and close to $10 billion in debt. This comes at a time when China's Property Market is facing a structural reversal, which could have significant knock-on effects for the economy. Chinese President Xi Jinping is reportedly opposed to "welfarism" and may be reluctant to implement major market reforms. Analysts are skeptical that stimulus measures will be enough to address the challenges facing the property market.

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