Tao Zhang

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  • A Country Garden residential area in Nanjing, China, on Feb. 28, 2024. On the same day, Country Garden Holdings Limited is issuing a notice to the Hong Kong Stock Exchange that the company has been made aware of the winding-up petition filed by Ever Credit Limited in the High Court of the Hong Kong Special Administrative Region on February 27, 2024. This petition relates to an unpaid term loan of approximately HK $1.6 billion in principal and accrued interest between the petitioner, Ever Credit Limited, and Country Garden Holdings Limited. (Photo by Costfoto/NurPhoto via Getty Images)Finance

    China’s real estate workers are taking 90% pay cuts and skipping social events to survive the property slump

    By Chongjing Li, Charlotte Yang, and others