tammy chiang reports delegates assembled in the great hold of the people. i'm one of the biggest challenges the property market. but china is premier said the problem is under control. fact you from at 1st were made to stem the downturn on the restore stability in the real estate market, where you reduce the interest rates for housing loans and the ratios of dong payments will a promise of tax cuts and low interest rates help. it's too late for investors at the grand river side bay in northeastern china. the luxury c, sorry departments were designed, the affluent retirees. now the entire complex is in ruins. and the developing company collapsed with $300000000000.00 of debt. and this isn't an isolated case. there are projects like this in cities across the country. china is housing over supply. problem is now so bad. it's estimated there are 60000000, they can homes. that's enough to house an entire medium sized country. exhibition centers office blocks in housing estates and list of the city full unoccupied. mrs. penn moved to several years ago, opened a p