China property woes deepen with Vanke slump, Country Garden halt

Annual price declines deepened in February for both new and used homes. — Bloomberg

ONE of China’s biggest property firms delayed its earnings report while another posted a record profit decline as the nation’s real estate crisis shows no signs of easing.

Country Garden Holdings Co, once the nation’s top residential builder by sales, made a surprise announcement late Thursday that it will miss a deadline for reporting annual results, saying it needs more information.