Chinese developer Shimao plans fire sale after downgrade and missed payment

A man walks past a Shimao building site in Shanghai. The company is selling some of its assets after it defaulted on a trust loan last week. Photograph: China Stringer Network/Reuters

A man walks past a Shimao building site in Shanghai. The company is selling some of its assets after it defaulted on a trust loan last week. Photograph: China Stringer Network/Reuters

source https://www.theguardian.com/world/2022/jan/11/chinese-developer-shimao-plans-fire-sale-after-downgrade-and-missed-payment