Chinese property market not “frozen” after all!

Great news! China is fixed:

The Beijing-based builder said a letter written by a local executive for verbal communication with officials in eastern Shaoxing city last week was only a draft that was “accidentally” sent to a chat group outside the company. It wasn’t submitted to the government, Sunac said in a statement. The group’s operations are healthy, it added.

Of course! Thanks for the timely disclosure. This is all just a mistake.

Funding isn’t “frozen”:

Land sales aren’t “frozen”:

Transactions aren’t “frozen”:

Infrastructure isn’t partly “frozen”:

Welcome to the sunny uplands of the Chinese developer boom.

Never invest in China.

Houses and Holes
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  1. Camden HavenMEMBER

    I think the idea he was trying to convey was that his company is no more frozen than all the other Chinese developers. Denial = admission