BEIJING, Sept 17 — Police in China have arrested several employees of a subsidiary of troubled Chinese property giant Evergrande, authorities said yesterday.
The property sector, which along with construction accounts for about a quarter of China’s GDP, is a key pillar of the country’s growth and has experienced a dazzling boom in recent decades. Authorities have gradually tightened developers’ access to credit since 2020, and a wave of defaults have followed — notably that of Evergrande.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: