Evergrande and friends sink

Friday 3 December 2021

The news flow in the Chinese development sector is relentlessly poor:

Developer Asks Employees to Take Leave (3:15 p.m. HK)

A local unit of Chinese property developer China South City Holdings Ltd. has asked some employees to take more than four months of leave, China Business News reported, citing a company document. The employees will be paid only 60% of the local minimum salary during that time, the report said.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.