Beijing’s November Despair: Hundreds of Thousands Flee Jobs, Economy Seems Hopeless
With the economic downturn, more commercial spaces in Beijing are sitting empty. This rise in vacancies is driving rents down, which in turn lowers business enthusiasm to open new stores. …
6 months, 1 week ago
Tue 14th May 2024
[UTC + 07:00]
Massive Layoffs in China’s Real Estate: 500,000 Jobless, 20 Million Unfinished Buildings
Currently, more than 50 Chinese developers have defaulted on international debts. According to the grassroots think tank Keyan, which focuses on China's real estate, about 500,000 people have lost …
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