//
you're reading...
China Daily Mail


China News

More Chinese property developers have filed for bankruptcy, the South China Morning Post reported on Friday, as failures ripple through small real-estate companies after more than two years of measures aimed at curbing home prices in China.

Guangdeye Property Development, based in Shunde in the southern province of Guangdong, has declared bankruptcy, unable to pay back debt, the newspaper stated, citing the Shunde People’s Court.

That follows the reported failure of two developers in Hangzhou, the capital of Zhejiang province further north on China’s coast, where local media said both Hangzhou Jinxiu Real Estate and Hangzhou Glory Real Estate have filed for bankruptcy.

With around 60,000 developers in China, analysts expect more failures among unlisted companies, which would benefit big, geographically-diverse listed developers such as China Vanke and Evergrande Real Estate.

Jinsong Du, China property analyst at Credit Suisse, told Reuters that bankruptcies are likely to spread to other cities…

View original post 100 more words

About Craig Hill

General Manager at Craig Hill Training Services * Get an Australian diploma by studying in your own country * Get an Australian diploma using your overseas study and work experience * Diplomas can be used for work or study in Australia and other countries. * For more information go to www.craighill.net

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

writer@craighill.net

Join 1,662 other followers

An archive of all my old posts

Follow me on Twitter

I also have a news site about China:

%d bloggers like this: