A man talks on his mobile phone outside a construction site of Shimao Group in Shanghai. Photo: VCG
A man talks on his mobile phone outside a construction site of Shimao Group in Shanghai. Photo: VCG

Troubles mount for Shimao Group as Shanghai exchange asks Chinese developer to explain US$259 million related party deal

  • The US$259 million sale of a property management business by Shanghai Shimao, a unit of Shimao Group, has caught the attention of the Shanghai Stock Exchange
  • Shimao Group also plans to cancel transactions of 93 flats at Shanghai’s bustling Lujiazui finance and trade zone because of technical issues

Topic |   China property
A man talks on his mobile phone outside a construction site of Shimao Group in Shanghai. Photo: VCG
A man talks on his mobile phone outside a construction site of Shimao Group in Shanghai. Photo: VCG
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