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


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 . . .

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