State-Owned China Construction Bank Files Winding-Up Petition Against Shimao, A Prominent Property Developer
Monday, 8 April 2024, 05:06
Shimao: China Property Giant Faces Winding-Up Petition
In a rare move, state-owned China Construction Bank have taken legal action against Shimao, a prominent property developer. The filing of a winding-up petition indicates escalated financial challenges and potential risks faced by Shimao in the current economic climate. This development has sparked concerns about the stability of the company and its impact on the real estate sector in China.
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