Sep
05
China’s Hubei Province Halts Some New Property Investments, Sources Say
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Province-backed companies asked to suspend new investments
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Hubei’s SASAC makes decision as companies face high debt
The state assets regulator in China’s Hubei province has asked companies backed by the province and their subsidiaries to suspend new property investments from Sept. 5 amid a push to reduce financial risks, according to people familiar with the matter.
The State-owned Assets Supervision and Administration Commission in Hubei has also asked province-backed companies to accelerate the construction or sales of current property projects and get money back as soon as possible, said the people, who asked not to be named because they weren’t authorized to comment on the matter publicly…
China’s Hubei Province Halts Some New Property Investments, Sources Say
