Corruption, Governance Woes Plague Indebted Chinese Property Sector
Evergrande admits internal control failures, senior executives of other Chinese developers missing and arrested
By: Toh Han Shih
China’s long-festering property market meltdown appears to be picking up speed, with corruption and corporate governance problems coming to the surface, not only in China Evergrande Group, once the country’s biggest developer and now the world’s most indebted, but among other developers as well who are also weighed down by outsize debt.
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