Beijing cracks down on real estate bosses

China’s real estate sector faced significant problems for months. Now the authorities are also taking legal and party disciplinary action. On Wednesday, several local authorities and the Communist Party’s disciplinary commission announced that they started investigations against four high-ranking managers in state-owned real estate companies. They were suspected of „serious violations of discipline and law,“ authorities said. In China, this offense is a euphemism for corruption or embezzlement.