Property developers rushing to Beijing for urgent meeting

Senior executives of real estate companies have been summoned to Beijing for a hastily arranged meeting, according to local media.

Cailian News Agency is reporting China’s National Development and Reform Commission has convened the meeting for tomorrow (Tuesday, October 26), with “many” enterprises receiving notices.

Sources have told reporter Chen Ye that the commission notified relevant parties by phone and “most of the participating enterprises are large debt holders in US dollars.”

The report said “at present, many real estate companies have received notices and senior executives have rushed to Beijing.”

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