China’s housing minister, Ni Hong, has made it clear that the country’s struggling real estate developers will not receive a significant bailout. The warning comes amid a backdrop of increasing defaults and a declining property market. What Happened: Ni, the Minister of Housing and Urban-Rural Development, said, “For real estate companies that are seriously insolvent and have lost the ability to operate, those that must go bankrupt should go bankrupt, or be restructured, in accordance with the law and market principles.” He also warned that those who harm the public’s interests will face legal…
