A not-so-hot property
By Yu Ran | China Daily | Updated: 2011-07-11 08:01
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A railway running next to a social housing project in Chongqing. Some cash-thirsty developers have turned to risky 'underground' banking as China tightens bank lending. Nelson Ching / Bloomberg |
WENZHOU, Zhejiang - Tightened bank lending and falling prices are beginning to take their toll on property developers in some of the hottest markets around the country, from Beijing to Shanghai to Guangzhou.
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