More than 230 home developers filed for bankruptcy in China in 2023: Report
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More than 230 home developers filed for bankruptcy in China in 2023: Report
aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
More than 230 home developers filed for bankruptcy in China in 2023: Report
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The Chinese economy is facing a crisis, with migrant workers, labor brokers, and shop owners moving out of coastal cities and returning home due to reduced job opportunities. The crisis began earlier this year, as China lifted its COVID-19 controls near the end of 2022. The country s economy has been struggling to stage a comeback, with President Xi Jinping acknowledging the challenges in 2023.