Newly Built House
Highlights
- 20 yuan will be considered for 1 kg of watermelon
- Motive to encourage farmers to buy new homes
- Domestic debt in China has also crossed 10 trillion US dollars
China: There is a deep recession in the Chinese markets. The effect of which is being seen on every business sector there. The recession has had a terrible effect on the real estate business here. People are scared to invest in property. Real estate companies are taking all measures to attract customers, but customers are not getting attracted.
A real estate company in China is taking watermelon as payment from customers. Real estate developers in Chinese Tier III and IV cities have recently launched various promotional campaigns. In which home buyers have been given the option of making down payment in the form of wheat and garlic. Behind which farmers can be attracted to buy the newly built house.
20 yuan for a kilo of watermelon
According to a news in the Global Times, a kilo of watermelon has been considered equal to 20 yuan. Whose according to Indian rupees, if a watermelon is of 3 kg, then it will be around 700 rupees. The company has told in its promotional campaign that farmers should use watermelon, garlic and wheat as down payment for buying new houses. So that farmers can also get benefit.
According to the news agency, a poster for the promotional event, which will start from June 8 to July 15, reads, home buyers will be allowed to pay a maximum of 5,000 kg of watermelon. Whose value is 100,000 yuan. The purpose of the promotion is to support local watermelon farmers. However, the company has called off this promotional campaign after the media came under fire.
company stopped promotion
According to a statement by a company official, “We have been asked to remove all promotional posters on social media platforms. Now we have been asked to create other campaigns for promotion.
Let us tell you that the domestic debt in China has also crossed 10 trillion US dollars. According to the data of Chinese banks, 27% of the loans given by banks are related to fixed assets like houses etc. The real estate business in China was known to be the biggest employer and giver of profit, but now things have changed. Now it is becoming one of the most harmful business.