Why? One possible reason is....
http://www.bloomberg.com/news/2014-05-06/china-property-slump-adds-danger-to-local-finances.html
"The value of land sales in third-tier cities declined 27 percent last month, according to SouFun Holdings Ltd., the nation’s biggest real-estate website owner."
27% decline in a month.
"Failure to find other revenue sources increases the risk of defaults and financial turmoil that curb economic expansion already projected this year at the slowest pace since 1990".
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- why tfa selling spv to fwl?
why tfa selling spv to fwl?
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