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The Chinese mortgage boycott is an ongoing mass protest in the People’s Republic of China primarily in response to delayed and substandard property development from China Evergrande Group, the second-largest property development firm in China by market capitalization alongside other property development corporations.

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  • Chinese Mortgage Boycott (en)
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  • The Chinese mortgage boycott is an ongoing mass protest in the People’s Republic of China primarily in response to delayed and substandard property development from China Evergrande Group, the second-largest property development firm in China by market capitalization alongside other property development corporations. (en)
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  • The Chinese mortgage boycott is an ongoing mass protest in the People’s Republic of China primarily in response to delayed and substandard property development from China Evergrande Group, the second-largest property development firm in China by market capitalization alongside other property development corporations. The boycott was initiated by homebuyers who had been paying mortgages for properties within China Evergrande Group’s Dynasty Mansion real estate development project located in Jingdezhen, Jiangxi province in southeast China. Angered by the lack of progress in erecting the building itself and the financial drain of paying mortgages on unfinished homes, prospective tenants released a public letter wherein they threatened to cease repaying their mortgage loans unless construction resumed before October 20, 2022. The letter was widely circulated across Chinese social media and messaging platforms such as WeChat, Douyin, and Weibo as netizens shared their own frustrations with perceived mortgage-related injustices or commiserated with those who did. Within a month, sustained protests were observed in roughly one hundred Chinese cities, prompting the national government to introduce measures to prop up the low-volume real estate market and mitigate public outrage. Such measures include establishing local bailout funds to avoid insolvency and reducing the costs associated with taking out a mortgage loan. (en)
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