Country Garden: China property giant faces liquidation petition

China's biggest private property developer Country Garden is facing a liquidation petition, which has been filed in Hong Kong by a creditor.

The firm, which defaulted on its overseas debt in October, says it will "resolutely oppose" the legal case.

Last month, rival real estate giant China Evergrande was ordered to liquidate by a Hong Kong court.

The case was filed against Country Garden by a creditor, Ever Credit Limited. The first date for hearing the petition against has been set for 17 May.

Country Garden did not immediately respond to a BBC request for comment.

It comes after Evergrande, the world's most indebted property developer, was ordered to be liquidated by a Hong Kong court in January. However, it is unclear how far the ruling will hold sway in mainland China.

Problems in China's property market are having a major impact as the sector accounts for a third of the economy.