Recent signs have reinforced the fact that Beijing is reluctant to bail out troubled property developers, a case I made previously. The July Politburo meeting, for example, declared that the responsibility for rescuing unfinished housing projects falls on the shoulder of local governments.
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MP Econ Issue 11: Who’s Paying for the…
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Recent signs have reinforced the fact that Beijing is reluctant to bail out troubled property developers, a case I made previously. The July Politburo meeting, for example, declared that the responsibility for rescuing unfinished housing projects falls on the shoulder of local governments.