An accountant in northeast China deposited her life savings and received a letter guaranteeing her investment in a trust firm. Workers at a state-owned utility pooled money from friends and relatives believing that their investments were backed by the government.
Tag: Chinas
China‘s property sector is world’s ‘most important’ industry, says Fitch’s James McCormack
China’s property sector is continuing its yearslong crisis, as giant developers risk default and home prices continue to sink, perhaps by more than what official data suggests.
Real estate constitutes about 30% of China’s GDP, making it the single biggest