One of China’s largest property companies threw its weight behind smaller peer Tahoe Group, potentially offering hope to many households that have made big outlays on unfinished apartments.
Tahoe is the highest-profile property developer to fall into financial crisis since the coronavirus hit China. On Friday it said a unit of China Vanke Co. agreed to buy 19.9% of the company from its founder and chairman, Huang Qisen, for 2.4 billion yuan .
Source: News Formal (newsformal.com)
This is what the Chinese are waiting for American housing industry at below the price to buy it up and turn around and compete with America. Covid 19 has prepared and positioned them to double their wealth with American property ownerships. California is the Asian capital in US.
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