Cities across China are resorting to pressuring groups of state-sector workers to buy up unsold housing stock at discounts of up to 30%, as local governments struggle to jump-start flatlining property markets, Sixth Tone's sister publication The Paper reported Thursday.China's real estate sector is mired in its worst debt crisis in decades, with developers across the country defaulting on payments and halting construction on new projects. The turbulence has triggered a wider loss of market confidence: Land and property sales have fallen by double-digit levels in 2022.

https://www.sixthtone.com/news/1011353/chinese-cities-offer-huge-group-buying-discounts-on-unsold-properties

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