More trouble emerged in China's property sector as municipal authorities in Shenzhen imposed another sales ban on two projects in Shenzhen.
Shenzhen's City's Urban Planning and Resources Commission stated late Thursday that the sale of 2,800 units built by China Overseas Land & Investment have been blocked. No reason was given.
Investors are already bearish on China's oversupplied property market and scrutiny reached a new level this month after Shenzhen-based developer Kaisa defaulted on some US bonds.
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