China's largest developer offers 30% discounts for all its properties to boost sales

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China Evergrande, the country’s biggest home seller, said it would slash 30 per cent off the price of every real estate project nationwide for a month, in an unprecedented step that could kick off a spate of competitive discounts as cash-starved developers boost sales to raise cash in a slowing market.

Chairman Hui Ka Yan said in an internal meeting that Evergrande was targeting 100 billion yuan ($14.64 billion) of sales in September and October each, according to a company statement, as it aims for 800 billion yuan worth of 2020 sales and seeks . . .

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