Country Garden Holdings Company Limited, generally referred to simply as Country Garden, is one of the few major property developers in China to have not defaulted on debt, but it has many bond payments due in the near term (US News & World Report, CNN, Yahoo Finance). The use of "grace periods" to delay payment and creditor-approved bond restructuring would not count (Investopedia - Grace Period). Default by its business segments or wholly-owned subsidiaries (e.g., Country Garden Real Estate) would count.

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