CX Daily: The Scam That Turned China’s Housing Slump Into a Cash Machine
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In Depth: The scam that turned China’s housing slump into a cash machine
When Li Qing decided to sell her apartment in the southern Chinese city of Guilin, the real estate agent made an enticing offer: a quick sale and a guaranteed payment of 900,000 yuan ($125,000), hassle-free. All she had to do was agree to a few unusual conditions.
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