The article outlines ongoing price reductions in new residential property developments in China.
- More property developers in China are cutting prices on new homes
- to boost sales , raise cash amid flagging demand and a tougher environment for debt refinancing
- The piece cites an example of a developer cutting prices by 30% in the past two months for one development in Tianjin
- Goes on to say that staff at the developer were told to buy unsold property in the development
Link to Caixin is here, may be gated
