The Asset Management Association of China has banned registration of private equity schemes for residential property investment in 16 cities
- where it says the market has overheated
- include Beijing, Shanghai, Guangzhou, Shenzhen and Xiamen
- ban will prevent private equity investors from using trust and other financing services to fund real estate developers for land purchases and working capital
Reuters for more (ps. this item is from Monday on Reuters)
I posted earlier on China property here: "Downturn in China's property cycle seen hurting steel demand"
