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China developers should consider other industries as Beijing unlikely to ease property controls, tycoon says

Summary:
[unable to retrieve full-text content]The Chinese government is unlikely to ease its controls over the domestic property market, so developers should consider branching out into other industries, according to billionaire real estate tycoon Sun Hongbin.“Moving the economy away from relying too much on real estate is highly political and it is the country’s choice for a long-term strategy. We must understand this adjustment,” said Sun, the founder and chairman of Hong Kong-listed property developer Sunac, in a speech in Beijing on…

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[unable to retrieve full-text content]
The Chinese government is unlikely to ease its controls over the domestic property market, so developers should consider branching out into other industries, according to billionaire real estate tycoon Sun Hongbin.“Moving the economy away from relying too much on real estate is highly political and it is the country’s choice for a long-term strategy. We must understand this adjustment,” said Sun, the founder and chairman of Hong Kong-listed property developer Sunac, in a speech in Beijing on…

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