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This Chinese City’s Property Market Is Even Chillier Than Its -22-Degree Weather

The Bayuquan cityscape in Yingkou is filled with housing projects, most of them empty or unfinished. (Tim Franco for The Wall Street Journal)

The Bayuquan cityscape in Yingkou is filled with housing projects, most of them empty or unfinished. (Tim Franco for The Wall Street Journal)

The Bayuquan cityscape in Yingkou is filled with housing projects, most of them empty or unfinished. (Tim Franco for The Wall Street Journal)