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Chinese property buyers may continue their binge overseas
THE trend of Chinese capital going out for real estate investment will continue in 2017 despite some short-term market volatility brought by the country's latest vow to monitor capital outflow, global property advisor JLL said.
"Investing overseas is a strategic move for most Chinese investors," said Stuart Crow, JLL's head of Asia Pacific capital markets. "While there may be some short-term slow-down or delay, we expect few long-term structural changes."
China announced last month that it is taking a more cautious stance to capital outflows, curbing overseas investments of more than US$10 billion and mergers and acquisitions valued at more than US$1 billion if they are not part of a company's core business.
The official Xinhua news agency later reiterated that the nation will adhere to its outbound investment management policies that allow enterprises to make its own decisions. The record-filing system will be the main means of managing outbound investment and authorities will verify some enterprises' outbound investment projects, according to a government statement.
In the third quarter of 2016, China overtook the US to become the largest cross-border real estate investor with nearly US$18 billion invested into commercial property assets internationally in the first three quarters of this year, JLL data showed.
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