Foreign investors are fleeing China

Jing’an century, a housing development with ponds and lush greenery in north Shanghai, should have been bustling with activity as workers put the finishing touches on flats. Instead the area is silent. A two-month lockdown of the city of 25m people has forced the developer, a large group called Yanlord, to halt construction on the site. Homebuyers have been on edge for months as some of the country’s largest developers default on bonds and struggle to deliver homes to ordinary Chinese buyers. More from Economist