Despite the many horrors visited upon China’s property sector, an industry publication reports that just 308 of the country’s 124,665 developers declared bankruptcy last year.China’s ultra-low corporate bankruptcy rateabout a fifth of that found in America—might seem like unalloyed good news for officials in Beijing. On October 30th the property developer was granted its fifth, and probably final, stay of liquidation by a court in Hong Kong. Yet the situation on the mainland is a little more comfortable: the firm’s representatives have not even had to visit a courtroom. This is not unusual. Do you think that China is on the fall trajectory ?

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