# Hongyaotai

Pepper Spray and Fire Sales: Shenzhen’s Property Slump Sparks a Desperate Race to the Bottom

A Shenzhen real estate project sparked a chaotic buying frenzy and security intervention after slashing prices by nearly 40% to move stagnant inventory. The incident highlights the extreme liquidity pressures on Chinese developers who are increasingly forced to sacrifice profit for immediate cash flow to service bank debts.