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As China’s property crisis spreads, Beijing says there’s nothing to see

China’s approach may stem panic, but it sidesteps broader pressures on the sector and the economy

As China’s property crisis spreads, Beijing says there’s nothing to see

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Alexandra Stevenson and Joy Dong When times were flush for the property developer China Fortune Land, it bought a trophy soccer club and recruited star athletes from Argentina. These days, the players with the club, Hebei F.C., are on indefinite leave because it cannot afford to keep the lights on. The developer is one of a growing number facing financial strain in China, challenging the narrative from Beijing that it can keep the country’s corporate debt crisis under control while avoiding...

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