The number of Chinese property developers going out of business as they find themselves struggling to borrow money amid a slowing economy has gone up by half, according to official figures.So far this year, 274 builders have filed for bankruptcy, a rise of 50 per cent from a year ago, according to the website of the People’s Court Daily, a state-owned publication.A recent, high-profile example was Yinyi Group, a developer in the Chinese port city of Ningbo, which filed for bankruptcy…
Source : South China Morning Post
Read more…Bankruptcies among Chinese developers are up by a half amid slowing economy, restrictions on borrowing















