Developer's Bear Market Demonstration Receives Backlash
A Chongqing developer looking to raise consumer confidence in local real estate thought it would be fun to have a group of women dressed in traditional Chinese garb lead black bear cubs through the streets on chains with signs that read, "The real estate market is not a bear market. We have confidence in the real estate market."
The demonstration was likely done after a similar bull market promotion didn't turn out very well.
However, the promotion attracted a ton of backlash online with people finding the stunt to be more cruel then clever, Shanghaiist reports. Many wondered where the developers got the cubs, while others suggested the promoters be the ones led through the streets in chains.
Meanwhile, over the weekend a real estate developer in Shenzhen held a record-setting real estate rock concert, selling 6B yuans worth of property in six hours. [Shanghaiist]
