Major Chinese Developer Insolvent; Sign Of Things To Come?
The ongoing debate about Chinese growth, both how much of it is real and whether the government can reign it in gradually and avoid a crash, is about to be put to the test. Chinese development firm Zhejiang Xingrun Real Estate Co. is insolvent with 3.5 billion yuan ($562 million) in debt and its residential projects put on hold, Bloomberg reports, and this . . .
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