HONG KONG -- A top state-owned Chinese bank has filed a petition to wind up property developer Shimao Group Holdings in Hong Kong -- the latest sign of the country's spreading real estate crisis and one that raises questions over the fate of projects "white-listed" by the government.
China debt crunch
China Construction Bank seeks wind-up of property developer Shimao
Hong Kong petition raises questions over company's 'white list' projects
The flag of property developer Shimao Group flutters next to a Chinese flag in Shanghai. © Reuters
Read Next
Latest on China debt crunch
