https://www.scmp.com/business/companies/article/2167365/chinese-homebuyers-vent-rage-country-garden-slashing-prices-two
This kind of proclaimed promotional activity in the property market is a harbinger of risk.
Some developers are even offering discounts of 50%. This shows that the developers are facing severe cashflow problems in China now and they don't have confidence in the market due to the trade war with the USA.
Many citizens are saddled with property debts because the Chinese believe in property ownership for a family life, especially marriage.
When the property market collapses, China economy will be in dire straits.
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