In China’s Real Estate Crisis; Shanghai-Based Property Giant Shimao Group Faces Liquidation Suit
Shanghai: Amid the real estate crisis in China, another Shanghai-based property giant Shimao Group said on Monday that it had received a liquidation petition from a Chinese state-owned bank in yet another instance of creditors taking legal action to reclaim money from troubled developers in the world’s second-largest economy, CNN reported on Monday.A "winding-up petition" was filed against the