BEIJING, Sept 17 — Police in China have arrested several employees of a subsidiary of troubled Chinese property giant Evergrande, authorities said yesterday. Employees at...
BEIJING, Sept 17 — Police in China have arrested several employees of a subsidiary of troubled Chinese property giant Evergrande, authorities said yesterday.
The property sector, which along with construction accounts for about a quarter of China’s GDP, is a key pillar of the country’s growth and has experienced a dazzling boom in recent decades. Authorities have gradually tightened developers’ access to credit since 2020, and a wave of defaults have followed — notably that of Evergrande.
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