Why Chinese property developers are accepting garlic as payment
Chinese property was front of mind for many investors last year as we watched property developer Evergrande struggle with its $300 billion dollars in debt.
Turn away for a few months and now Evergrande’s developer peers are accepting fruit and vegetables as payments.
Chinese property developers are now accepting garlic in exchange for property.
You heard that right. And no, garlic isn’t code. 500g of garlic will get you 5 yuan off your property.
Or maybe more realistically, 5 tonnes of garlic will get you 50,000 yuan off your property. That’s a little over $7,000 US dollars.
Darcy and Alec unpack all the details in today's episode of The Dive. Who says business news needs to be all business?
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