China's Real Estate Crisis: Shattered Dreams on the Sea Flower Island

Tagesschau

Center

Factuality

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It's inspired by Dubai's artificial Palm Islands – only bigger: the man-made Haihuadao archipelago. Today, the project is a symbol of China's real estate crisis. By Benjamin Eyssel.

大纪元 Epoch Times

Factuality

Ownership

The debt crisis of China Evergrande Group continues to escalate, and the Hainan Danzhou Ocean Flower Island, once regarded as Xu Jiayin's "gamble of the century," has also fallen into a mess. This mega-scale artificial island project was touted as having an investment of 160 billion yuan and was modeled after Dubai's Palm Islands.