Debt-laden local government financing vehicles face soaring bond yields

  • clutch@lemmy.ml
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    1 year ago

    One developer was so broke, but it still tried to make do:

    The group’s real estate development income plummeted from 1.1 billion yuan in 2021 to zero in 2022, according to China Chengxin Credit Ratings. It has even started selling corn and jujube fruit as a new business.