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China
Real estate giants brace for clampdown as anti-graft body set to tighten screws

Reading time 2 min

A construction site belonging to China State Construction Engineering Corp (CSCEC), one of the world's largest construction companies.
A construction site belonging to China State Construction Engineering Corp (CSCEC), one of the world's largest construction companies. © Reuters

After reining in China's banks, Xi Jinping wants to promote a new model for property development. To avoid the president's wrath, the sector's big players are racing to polish their halos by cutting salaries and bonuses.

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