Why is Harbin Rongchuang unfinished?

Debt problem. As of March 2, 2023, the project of Harbin Sunac has been suspended for more than five months, because of the company's debt problem, the project payment could not be paid on time, and no one started work, which led to the unfinished project. Harbin, also known as Ice City, is a prefecture-level city, a provincial capital city, a sub-provincial city, a mega-city and a core city of Harbin-Changsha urban agglomeration under the jurisdiction of Heilongjiang Province. It is an important central city in Northeast China and an important national manufacturing base approved by the State Council.