China's cash-strapped Kaisa in strategic pact with state firms

China's cash-strapped Kaisa in strategic pact with state firms

Photo: A construction site by Chinese property developer Kaisa Group is seen at an area of downtown Shanghai, February 17, 2015. REUTERS/Carlos Barria

Cashstrapped Kaisa Group entered into a strategic co-operation agreement with state-owned China Merchants Shekou Industrial Zone Holdings and China Great Wall Asset Management on joint venture arrangements and asset acquisitions.