Property News · July 3, 2018

China’s Greentown refutes cash crunch rumour after asking staff to speed up cash inflow amid tightened scrutiny


Hangzhou-based developer Greentown China Holdings has played down speculations about a potential cash crunch after it urged sales staff to accelerate cash inflows amid a tightened regulatory environment.
The mainland’s top developer of high-end housing said it had cash of 50 billion yuan (US$7.5 billion) on hand, a sufficient and safe level to support daily operations.
“Management of cash flow, every six months, is a normal operation,” Greentown said in a statement on Monday…

Source : South China Morning Post
Read more…China’s Greentown refutes cash crunch rumour after asking staff to speed up cash inflow amid tightened scrutiny

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