Shimao

Chinese developer Shimao share plunge adds to property woes

HONG KONG: Chinese real estate firm Shimao Group’s share price plunged to its lowest level in a decade on Tuesday, adding to the concerns over the country’s heavily indebted property sector. The Chinese property firms have struggled in the wake of Beijing’s drive last year to curb excessive debt in the real estate sector, as well as rampant consumer speculation. Last

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