Property News · December 27, 2017

Co-working spaces taking China by storm


Grant Horsfield says he had a heart attack in early 2009, after Chinese bank ICBC recalled a loan from his bank account for 30 million yuan (US$4.58 million), as the latter received an order from the country’s authorities to reduce debt following the global financial crisis.
It was two years after the South African entrepreneur had started his business in China. To avoid running out of cash, he was forced to turn to loan sharks for the same amount, who charged him whopping annual interest…

Source : South China Morning Post
Read more…Co-working spaces taking China by storm

You may also like...