China’s Property Crisis Blew Up Investments That Couldn’t Lose:
Citic said its new fund was as safe as they come because it would invest in real estate ...
nytimes.com/2023/12/28/business/citic-trust-china-property.html
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Key FactsChina's Real Estate Crisis Impacts Secure Investments
Dec 28, 2023 · Reading time: ~30 sec.
Summary created with AI assistance · Source: nytimes.com
Summary created with AI assistance · Source: nytimes.com
- Citic claimed their new fund was extremely safe as it would be investing in real estate.
- One of China's major investment firms, Citic Trust, had a clear strategy to raise $1.7 billion in 2020 to finance property developments: There is no safer Chinese investment than real estate.
- Three years later, investors who invested in the Citic fund have only recovered a small portion of their investment.
- The failure of the Citic fund offers insight into the broader issues facing China's struggling property sector.
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