This is the latest blow to China’s embattled property sector, following news of property developer Evergrande filing for bankruptcy protection in the U.S. last week.

Shares of Country Garden have plunged over 70% so far this year, hitting record lows after the company failed to meet bond coupon payments, issued a profit warning and suspended trading in 11 of its onshore bonds.

Country Garden also has less than 30 days to make coupon payments it missed on Aug. 7 on two dollar bond coupons worth $22.5 million.