One other Chinese language property developer bites the mud – China South Metropolis ordered to liquidate
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The Hong Kong Excessive Court docket has ordered the liquidation of South Metropolis, making it the biggest Chinese language property developer by property to be wound up since China Evergrande Group.
The corporate did not safe ample creditor backing for its restructuring plan after months of negotiations, underscoring how China’s extended property downturn continues to topple once-dominant actual property corporations.
Share buying and selling of the agency has been halted.
The moribund property sector, mired in debt, continues to pull on the Chinese language economic system
This text was written by Aaron Cutchburt at investinglive.com.
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