More than 230 home developers filed for bankruptcy in China in 2023: Report
Taipei, Jan. 27 -- An estimated 233 home developers in China have registered for bankruptcy in 2023, Taiwan News reported citing the China Real Estate Association.
The highest number of bankruptcies have been filed in China's Zhejiang province. As many as 36 cases of bankruptcy filed in Zhejiang accounted for 15.45 per cent of China's total. Hunan and Guangdong provinces were second and third respectively in China, according to a Taiwan News report.
According to the report, the number of bankruptcies for 2023 was the lowest since 2020. As many as 408 home developers filed for bankruptcy in 2020, the first year of the COVID-19 pandemic, Taiwan News reported. As many as 341 home developers filed for bankruptcy in 2021 and 308 registered f...
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