{"id":2008793,"date":"2023-08-22T23:26:02","date_gmt":"2023-08-23T03:26:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/unpaid-workers-silent-sites-chinas-property-woes-hit-country-garden\/"},"modified":"2023-08-22T23:30:17","modified_gmt":"2023-08-23T03:30:17","slug":"unpaid-workers-silent-sites-chinas-property-woes-hit-country-garden","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/unpaid-workers-silent-sites-chinas-property-woes-hit-country-garden\/","title":{"rendered":"China&#8217;s property troubles hit Country Garden with unpaid workers and deserted sites."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Funpaid-workers-silent-sites-chinas-property-woes-hit-country-garden%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2008793&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>By Laurie \u200cChen<\/p>\n<p><h2>Tianjin&#8217;s Unfinished Construction Sites: A Silent Crisis<\/h2>\n<\/p>\n<p>At an unfinished Country Garden residential complex on the \u2062outskirts \u2062of the northern Chinese metropolis of Tianjin, construction has slowed\u200b to a dull whirr and a few\u2062 idle\u200b workers roam a near-empty site.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>\u201cThey haven\u2019t paid us since Chinese New Year (in\u2063 January). We are all worried,\u201d said \u2063a labourer surnamed Wang, 50, who\u2063 said he had stopped work at the Yunhe Shangyuan site \u200dlast week.<\/p>\n<p>The sprawling complex is one of two projects Reuters visited\u2063 on Friday in Tianjin, a \u200dport city of 14 \u2062million people about\u2062 135 km (84 miles) southeast of Beijing. Both sites are\u2064 run by \u2062Country Garden, China\u2019s largest developer by sales volume before this year, now mired in a debt crisis threatening to spill over to the wider economy.<\/p>\n<p>Construction had partially or fully \u2062stopped\u200b at both sites \u2013 the larger one\u200b with a few \u2063rows of unfinished five-storey apartment blocks and the other with lifeless cranes and thick green scaffolding hanging over skeletal high-rises. Workers at dorms \u200bon \u2064the sites complained of months\u2063 without pay.<\/p>\n<p>\u201cI\u2019m under a lot \u200cof pressure,\u201d said a worker at the Yunhe Shangyuan site surnamed Wei, also in\u2064 his 50s, who added\u200c that he had only received a one-off living \u2062stipend of 4,500 yuan \u200d($618) \u2064so far this year.<\/p>\n<p>\u201cI \u2064have a wife and kid who\u2019s about\u2062 to return to school, as well as elderly parents \u2026 Workers can\u2019t live on this.\u201d<\/p>\n<p>Once considered one of the \u2064more financially \u200dsound\u200c developers,\u2064 Country Garden is now a bellwether of\u200b how the cycle \u2064has turned for developers.<\/p>\n<p>Its financial woes have added to the debt crisis\u2064 in China\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-cracks-down-on-real-estate-industry-so-that-families-can-afford-housing\/\" title=\"China Cracks Down On Real Estate Industry So That Families Can Afford Housing\">real estate sector<\/a>, which accounts for roughly a quarter of the world\u2019s second-largest economy, currently losing steam \u200bamid a housing slump and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gdpnow-plummets-following-weak-consumer-spending-report\/\" title=\"GDPNow Plummets Following Weak Consumer Spending Report\">weak consumer spending<\/a>.<\/p>\n<p>A \u2064representative of Country Garden\u2019s Yunhe Shangyuan project said in a Wechat statement its \u201cregistered employees\u201d were all being paid.<\/p>\n<p>At the Yunjing Huating site, the government in June \u200cordered construction to be suspended to fix management problems, a project representative told Reuters in\u200d a separate statement. It has since passed inspection and \u2064work is\u2062 expected to resume next\u200b week, the person said, adding the suspension would have no impact on the\u200c targeted completion date of October 2024.<\/p>\n<p>Some workers are not employed directly by the developer,\u200b the Yunjing Huating representative said, but \u2063by its contractor, which \u200d\u201chas \u200bpromised to \u2064pay the workers\u2019 wages\u200b by the end of this month\u201d.<\/p>\n<p>The project contractor, Shenyang Tengyue Construction, did not pick up calls from Reuters or respond to\u200c emails seeking comment.<\/p>\n<p>The housing ministry did not comment on Reuters queries about halting of construction in the property sector in general or Country Garden in particular.<\/p>\n<p><h3>Unfinished Homes<\/h3>\n<\/p>\n<p>Country \u200dGarden has nearly 1 million homes to complete,\u200c according to estimates from Japanese investment bank Nomura. It has \u2062not \u2064publicly acknowledged whether any of its projects have halted construction due \u2064to financial constraints. <\/p>\n<p>In an exchange filing on Aug. \u200b10, Country Garden said it would \u201cspare no effort to \u2064ensure delivery\u201d of apartments and that it would \u2064\u201censure the operation of projects nationwide\u201d to\u200b fulfill its commitment to home buyers.<\/p>\n<p>Country Garden built \u2062its success by quickly selling a large number of units for low margins and by promising \u201cfive-star living\u201d in less popular, smaller cities.<\/p>\n<p>Tianjin has about a dozen \u2063Country Garden\u200d projects, with the \u2062majority finished \u2064and delivered, said Gao Fei, \u2063investment advisory\u2062 manager at the\u200c Tianjin branch of Centaline Property Agency.<\/p>\n<p>Gao said halted construction projects were \u201crelatively rare\u201d in the city,\u2063 representing \u2063about a dozen out of 300 sites for sale, but \u201cthere are indeed projects whose development progress has \u200dslowed down\u201d.\u2062 <\/p>\n<p>\u201cIn China, it \u2062is \u2063a \u200ccommon phenomenon because now all\u200b developers control the\u200d rhythm of construction based on the sales rate \u2026 so \u2064once sales slow down, so will construction,\u201d \u2063Gao told \u200cReuters.<\/p>\n<p>Confidence in\u200d the sector took a big hit last year after\u2064 many Chinese \u200bhomebuyers threatened to stop repaying mortgages, as <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/unpaid-workers-silent-sites-chinas-property-woes-hit-country-garden\/\" title=\"China's property troubles hit Country Garden with unpaid workers and deserted sites.\">developers stopped building pre-sold\u2062 housing projects due<\/a> to strapped \u200cliquidity and strict COVID-19 restrictions.<\/p>\n<p>China\u2019s\u200b real estate market slightly rebounded \u2063in the first quarter of 2023 but transaction volumes have since \u200bdeclined,\u200d with the majority of city housing markets remaining\u200c in a \u201cdepressed\u201d state, said Gao.<\/p>\n<p>\u201cWe have \u200dseen that many home buyers are affected by a\u2063 lack of income, and\u2064 their home buying\u200c choices and what they \u2064can afford \u2063have been impacted\u200d in\u2064 turn.\u201d<\/p>\n<\/p>\n<p>  \u200d(Reporting by Laurie Chen \u2064in Tianjin; Additional reporting by Clare Jim in Hong Kong; Editing by Sumeet Chatterjee \u200cand Sonali Paul)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/unpaid-workers-silent-sites\/attachment\/construction-site-of-residential-buildings-by-chinese-developer-country-garden-2\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/unpaid-workers-silent-sites\/attachment\/construction-site-of-residential-buildings-by-chinese-developer-country-garden-3\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/unpaid-workers-silent-sites\/attachment\/general-manager-of-tianjin-branch-of-centaline-property-agency-poses\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/unpaid-workers-silent-sites\/attachment\/a-general-view-of-buildings-in-tianjin\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/unpaid-workers-silent-sites\/attachment\/construction-site-of-residential-buildings-by-chinese-developer-country-garden-4\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/unpaid-workers-silent-sites\/attachment\/the-company-logo-of-chinese-developer-country-garden-is-pictured-2\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BRICS could be America\u2019s Legion of Doom, John Eastman turns\u2062 himself \u200cin and Do Not Comply when faced with mandates.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Former President Donald Trump is skipping the first Republican presidential primary \u200bWednesday evening. Arizona\u200b gubernatorial\u2063 candidate Kari Lake hailed Trump for\u200b the decision, saying the race is already over. One America\u2019s <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The president has returned to his vacation after visiting Maui on Monday, two weeks\u200d following the deadly wildfire that has officially claimed the lives of at least 115 people, including\u2062 children.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Dr. Mandy Cohen \u2063is the new CDC \u200cdirector after being \u2064the secretary of North Carolina\u2019s Department of Health and Human Services. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) -Elon Musk is pushing to change how news links appear on his social \u200dmedia platform X, formerly called Twitter, in a\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Milana Vinn, Anirban Sen and Stephen Nellis NEW YORK\/SAN FRANCISCO (Reuters) \u2013 A scramble among Arm Holdings Ltd\u2019s clients, comprising the\u2026\u2062 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) -The U.S.\u200b Federal Trade Commission\u200b (FTC) is expected to\u2063 open an in-depth probe on Wednesday of Qualcomm\u2019s purchase of Israeli auto-chip\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Jody Godoy (Reuters) -A U.S. consumer finance regulator sued a subsidiary of fintech \u2062lender Curo Group \u200bHoldings\u200b Corp on Tuesday, alleging\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Construction at an unfinished Country Garden residential complex in Tianjin, China has come to a halt, with only a few idle workers left on the near-empty site. Concerns arise as they haven&#8217;t received payment since Chinese New Year in January.<\/p>\n","protected":false},"author":66,"featured_media":2008794,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2008793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2008793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2008793"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2008793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2008794"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2008793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2008793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2008793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}