The authorities in Suzhou in the southern province of Jiangsu snapped up 5,000 new units in September, according to CRIC China. Photo: Shutterstock
The authorities in Suzhou in the southern province of Jiangsu snapped up 5,000 new units in September, according to CRIC China. Photo: Shutterstock

Local Chinese governments snap up new homes in bid to buoy battered housing market, ease strain on developers

  • The authorities in Suzhou in the southern province of Jiangsu snapped up 5,000 new units in September, according to CRIC China
  • That and similar moves in Jinan and Xinjiang come as a crisis gripping China’s US$2.53 trillion housing industry deepens

The authorities in Suzhou in the southern province of Jiangsu snapped up 5,000 new units in September, according to CRIC China. Photo: Shutterstock
The authorities in Suzhou in the southern province of Jiangsu snapped up 5,000 new units in September, according to CRIC China. Photo: Shutterstock
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