Property News · February 5, 2022

‘No money, no new year’: Chinese developers remain mired in debt even after financial lifeline


As millions of Chinese headed home last week to celebrate the Lunar New Year, Michael Lin had to break the bad news to his 7-year-old daughter: she would not be seeing her grandparents in Anhui province during the long holiday week.Lin, who runs a painting and heating-insulation company in neighbouring Jiangsu province, had to sell the family’s 2017 Honda SUV last December to keep his small business – and six employees – afloat.He is one of the thousands of suppliers who have had to forgo…

Source : South China Morning Post
Read more…‘No money, no new year’: Chinese developers remain mired in debt even after financial lifeline