Caixin
Jul 29, 2022 09:05 PM
BUSINESS

In Depth: What’s Behind China’s Mortgage Strikes?

After almost three years of making monthly 3,000 yuan ($444) mortgage payments on an unfinished apartment, one homebuyer in the central Chinese city of Zhengzhou had enough.

The off-the-plan home that his family bought in September 2019 was part of residential complex sold in advance by New York-listed developer Xinyuan Real Estate Co. Ltd., which suspended construction on the project early last year, the man told Caixin earlier this week.

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