I haven't seen this argument before: the article linked below notes that it may difficult to find a white knight for Kaisa due to the large number of projects frozen by and intertwined with the Shenzhen government. For "strangers" to Shenzhen, there is not much advantage.
iFeng: 融创10余人进驻佳兆业总部 一次性全盘接手有困难
JuneX Capital Partners Launch “Founders Office“ with €100M Evergreen Fund
to Back European Entrepreneurs in Human Capital and Investment Management
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Press release
Sophia Antipolis, London, April 24rd, 2024
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