China’s commercial property bid evaporates

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Wish me luck as I wave you goodbye, via AFR:

Chinese investors have paused all investments overseas until this year’s Chinese National Party Congress in November is over, a roadshow by Colliers International, the Commonwealth Bank of Australia and PwC has revealed.

The trio, which toured China in September, said investors were reluctant to deploy funds into overseas investments especially after Beijing stamped out outbound investments in trophy property assets, “irrational” acquisitions in entertainment and sport and transactions in sensitive countries which have no diplomatic relations with China.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.