Bisnow Business Real Estate News
Foreign collectors who lent billions to Chinese builders are banding collectively to attempt to get some of their a refund by way of difficult restructuring plans. This month, the authorities detained its founder, Mr. Xu, on suspicion of what the company called “illegal crimes.” Several other prime executives and staff of its wealth management arm have been taken in for questioning. “When you have 30 years of rising prices, there is no method you can cease that process without super pain in every part of the economy,” mentioned Michael Pettis, a senior fellow at Carnegie Endowment for International Peace.
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