With recession looming over with the scythe, it is curtain calls for the real estate industry especially in China. Over the last quarter of the year, a handful few have seen their fortune raise while most are gawking in horror as they bleed incessantly. It’s been a terrible year for Asia’s wealthiest woman Yang Huiyan too. Yang is the majority stakeholder in Country Garden, one of the largest real estate firms in China. As the industry is plagued by an acute cash crunch (no thanks to all the Chinese loans), the country’s real estate is crashing. Country Garden’s shares plummeted by over 15 percent on 20th July 2022 as the company announced sales of stocks to raise cash. Yang’s personal wealth plunged by more than 52 percent. From $23.7 billion her coffers are $11.4 billion now. Yang inherited her massive wealth from her father Yang Guoqiang. Yang Guoqiang is the founder of Country Garden.

#YangHuiyan, who became #China’s wealthiest woman at age 25, is at risk of losing her top spot. https://t.co/3M4TwJMXt6

See Also: Billionaires Bleed In Trillions; Elon Musk, Jeff Bezos And Others Lose 1.4 Trillion Dollars In 6 Months

Even as regulators in China are tightening the screw around industry, a couple of firms are staring at bankruptcy. However, Country Garden has been safe up until Wednesday's announcement. The company is planning to raise over $343 millions by selling stocks. In a filing with the Hong Kong Stock Exchange the company has pledged to utilize the proceeds from the sales to cure their debts and increase working capital.

Real Estate accounts for nearly 20-30 percent of the GDP of China. With the industry struggling to sustain on its own, the government will ensure the investors are safeguarded from any impending crisis. It might seem like a troubleshooting maneuver but G-d knows where this is headed.

See Also: Losing Nearly Half His Wealth In 2022, Mark Zuckerberg Sells San Francisco Villa For $31 Million