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China Evergrande : consumer groups urge Evergrande to provide home buyers with proper contracts


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BEIJING (Reuters) - Consumer organisations from the Beijing and Tianjin metropolitan areas and Hebei province have told China s second-largest property developer Evergrande Group to sign formal contracts with home buyers who have already paid for their apartments.
Consumer groups made the request at a meeting with Evergrande officials on April 16, Beijing Consumer Association said in a statement on its website on Tuesday. The meeting was organised following complaints from consumers, including that the property developer had failed to sign formal contracts with home buyers after selling its projects and produced only temporary sales documents.
Evergrande, China s most indebted property developer, has been scrambling for cash as the Chinese government tackles what it considers rampant borrowing in the real estate development sector. It has been offering hefty discounts on properties and rushing to roll out new projects as a way to ease ....

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New Enforcement Actions and Proposed Laws Signal A New Era for China's Internet Giants


Posted by John Chan | Dec 16, 2020
A series of enforcement measures and proposed laws have drawn heightened attention to Beijing’s plans to rein in and remake the environment for big tech in China. Taken together, they reveal an unprecedented willingness by the Chinese government to take on tech giants that have previously gone largely unchecked, forcing them to toe the Party line and also to protect consumer interests and privacy to a degree previously unseen.
Since the summer, regulators have signaled growing concern about monopolistic practices in China’s technology sector. In November, the announcement by China’s market regulator of new measures to curb tech monopolies brought its priorities fully into view. This week it took action, fining three companies for improper reporting of acquisitions for regulatory approval. SupChina’s Lucas Niewenhuis ....

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