Shanghai Residents Express Concern Over Real Estate Crisis

Sam Wang
By Sam Wang
March 1, 2024China in Focus

Last week, Chinese property developer Country Garden received a liquidation petition from creditors over non-payment of a loan worth $205 million. And just one month prior to the petition, the company’s biggest rival Evergrande was ordered to liquidate by a Hong Kong court. Some Shanghai residents fear the ongoing property crisis could signal a troubling future. Others advised extra caution when investing in real estate.


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