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More than 400 Chinese developers go bankrupt this year amid cash crunch


More than 400 Chinese property developers have filed for bankruptcy so far this year, mostly small-sized ones, amid tightening government scrutiny, slowing home sales and the subsequent liquidity crunch.

As of October 27th, a total of 408 property developers had declared bankruptcy this year, according to the record on the website of China's People’s Court.

Most of the developers that went broke were small-sized companies based in China’s tier-three . . .

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