Foreign investors are fleeing China
Xi Jinping’s policies are having a profound impact on markets—and a painful one
Jing’an century, a housing development with ponds and lush greenery in north Shanghai, should have been bustling as workers put the finishing touches on flats. Instead the area is silent. A two-month lockdown of the city of 25m people has forced Yanlord, the developer, to halt construction on the site. Homebuyers have been on edge for months as some of the country’s largest developers default on bonds and struggle to deliver homes.
This article appeared in the Finance & economics section of the print edition under the headline “Empty promises”
From the May 28th 2022 edition
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