Work on two big mainland property projects ground to a halt before the Lunar New Year break amid market talk of missed payments as developers battled to secure continuing funding to finish the building work.

Caught in the crunch are two hotel towers in Shanghai's city centre and a mixed development in central Beijing.

The hotels development is jointly owned by Leo Investment of the United States and the Shui On Private Group, which is privately owned by Hong Kong businessman Vincent Lo Hong-shui.

The Beijing project is being built by mainland developer Beijing Yao Hui Real Estate.

South China Morning Post