BlackRock, the New York-based investment management corporation, is reportedly planning to divest an office complex in Shanghai, offering it at approximately a 30% markdown from its original purchase price.
![A pedestrian walks past BlackRock headquarters in New York. PHOTO: Bess Adler/Bloomberg](https://krugmaninsights.com/wp-content/uploads/2024/01/BlackRock-ETFs-1-1024x768.webp)
This move highlights the prevailing challenges in China’s commercial property market, particularly in its largest city.
The property in question, situated in the north-western area of Shanghai, was acquired by BlackRock