CapitaLand navigates China slowdown
It is ramping up presence in Tier 1 and 1.5 cities and tapping onshore funding
Singapore
CAPITALAND recognises that China's golden era for real estate is past, but still sees opportunities there, thanks to its increasing urbanisation, market liberalisation and the internationalisation of the yuan.
The company's president and group chief executive officer Lim Ming Yan, speaking at a briefing at Ascott Midtown Suzhou on Monday, said it is important to put into perspective the negative sentiments spread in the media about the China slowdown.
China is still growing at 6.5 to 7 per cent, and is doing so from a much bigger base than before - a US$12 trillion to US$13 trillion economy now, compared to just several trillion a few years ago, he said.
And as China moves from an export-led economy to a consumption-driven one, indicators that analysts use to track its growth - such as the purchasing managers index, which measures manufacturing health - may not…
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