"China's Country Garden Continues Sales Drought, Delays Financial Results"

China's home sales continued to decline in March, with the value of new home sales from the 100 biggest real estate companies dropping about 46% from a year earlier. This prolonged slump has impacted the nation's biggest builders and state-owned banks, leading to credit rating downgrades for some developers. Despite a slight rise in developer shares, the housing market is not expected to recover soon, with Fitch Ratings forecasting a 5%-10% fall in new home sales this year due to weaker demand.