Caixin
Jul 19, 2022 08:15 PM
BUSINESS

Suppliers of Delinquent Developers Complain They Can’t Pay Their Bills

Hundreds of landscapers, construction companies, sculpture-makers and other suppliers to China’s real estate industry have complained that they can no longer afford to pay their bills because some developers still owe them money.

The complaints, one of which was sent to authorities in the form of a joint statement signed by hundreds of suppliers, offer a clear example of how the financial problems of China’s developers are bleeding into the real economy, just as homebuyers in dozens of cities are threatening to stop paying their mortgages because their homes remain unfinished.

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