Country Garden's revelation fuelled fears of a slump in the world's second-largest economy. : One of China's biggest property developers has warned it could rack up a half-year loss of up to £6billion. Country Garden's revelation fuelled fears of a slump in the world's second-largest economy as its shares tumbled on the Hong Kong Stock Exchange. The business, which is run by the family of billionaire real estate mogul Yang Guoqiang, warned losses could be between £4.9billion and £6billion for the first six months of 2023 – a massive swing from a £209m profit last year.