China’s Mortgage Boycott Epicenter Gives Developers an Ultimatum

A city in China that witnessed wide-ranging mortgage boycotts by would-be homeowners is forcing property developers to resume stalled housing projects, including by threatening to investigate non-compliers for potential tax evasion.

Zhengzhou, capital of Central China’s Henan province, issued a notice to local officials and developers that construction on all stalled projects should be restarted by Oct.6, Dahe Daily, a state-owned provincial newspaper, reported Wednesday.