Caixin
Oct 25, 2018 06:22 AM
FINANCE

Tianjin City-Backed Developer Faces Debt Woes, Graft Probe

Tianjin’s real estate market cools amid curbs on property speculation. Photo: VCG
Tianjin’s real estate market cools amid curbs on property speculation. Photo: VCG

* Tianjin Real Estate runs into difficulties this year as the city’s real estate market cools and as curbs tighten on speculative investment

* The Di investigation is linked to the case of Huang Xingguo, the former mayor and acting party chief of Tianjin, sources say

A real estate developer backed by the Tianjin city government faces growing market concerns over its 140 billion yuan ($20.2 billion) debt overhang following investigations that have brought down most of its top management.

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