News Snapshot:
Guangzhou R&F Properties’ services unit has decided to sell three assets that form that core of a potential Hong Kong stock offer to a competitor for cash, seeking a bailout as the Chinese central bank’s crackdown on debt ceilings since August 2020 is starving companies of much-needed cash. Country Garden Services Holdings, a unit of one of China’s largest property developers Country Garden Holdings, said it would pay 10 billion yuan (US$1.6 billion) to R&F Properties Services for three companies involved in property management and construction services in mainland China, according to a filing to the Hong Kong stock exchange...
