Beijing city government's PE arm will not invest in property rental firm Danke

Photo: Reuters

An investment arm of Beijing’s city government said it would not fund property rental firm Danke, after Reuters reported it was holding talks with the cash-strapped Phoenix Tree Holdings Ltd brand before its partner bank stepped in to help tenants.

Sources had told Reuters earlier this week that Beijing E-town was considering becoming a major investor in the latest round of financing for Danke following protests by landlords, tenants and contractors in China’s major cities.

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