Chinese government to masively fine XIN for poorly constructed apartments?
You can only screw people long enough before all the complaints comes back to bite you, even in a communist country.
This is not a problem you can bribe away by paying government officials. These disgruntled homeowners will not rest until XIN is completely out of business and will never build another home again.
They will spread the word on the internet, tv, newspapers, and radio. XIN's name is ruined now. No one will ever buy a home from them again, no matter how cheap. Once the accounting fraud is exposed, it's game over.
besides, the pressure from yahoo board here is real. every fund manager glanced through the board to get some feel and sentiment. don't even bother contacting the management yourself. smart money will beat us to the door of xin management.
xin can do whatever it wants to contain the damage. but it cannot shut down the internet.
I see, so what you're saying is substandard housing, misrepresentation, is fine by the Chinese, as long as you can get a 'deep discount'. In that case, that property in Brooklyn that Xin says will be
sold to 40% Chinese, make it 100% Chinese.