China Begins to Rein in Speculative Real Estate Purchases
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China’s Xinhua News Agency has reported that a new policy in the city of Nanning will ban the sale of uncompleted commercial residential properties. Government officials stated that this program is intended to, “regulate the order of real estate market”. I expect this could be the first of many similar policies around the country to curb speculation in the sector. I continue to hold a bearish view on the Chinese real estate sector over concerns of future government policies targeting the sector.
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