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Several of China’s major property developers have been delaying payments to small private suppliers or contractors – in direct contradiction to high-level instructions imploring their debts be settled promptly. ....
Chinese billionaire Wang Jianlin has reached a new agreement with pre-IPO investors that allows it to stave off a $4.2 billion repayment, although the deal will see the tycoon giving up control of Wanda’s mall operator. ....