Chinese developer Shimao shares plunge
BEIJING: Shares in Chinese property giant Shimao Group plunged to a record low on Monday after saying it faced a winding-up petition from one of the country’s biggest banks. Beijing has been seeking to alleviate a mounting crisis in the property sector once a key driver of growth but now in a deep debt crisis, […]
Tomas Kauer - News Moderator 
BEIJING: Shares in Chinese property giant Shimao Group plunged to a record low on Monday after saying it faced a winding-up petition from one of the country’s biggest banks.
Beijing has been seeking to alleviate a mounting crisis in the property sector once a key driver of growth but now in a deep debt crisis, raising fears about the world’s second-largest economy.
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