Chinese pullout to affect four big property markets
Beijing's 'negative list' for overseas direct investment is expected to cool prices in US, HK, Australia and UK.
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DELEVERAGING and intensified regulations have curtailed China's investment in real estate overseas, putting pressure on property markets globally, especially in areas that absorbed substantial Chinese investment over the past few years, such as the US, Hong Kong, Australia and the UK.
The tightening measures could ease foreign exchange and capital flow risks in the near term. Long term, they could boost financial stability, steering China away from the mistakes made by Japan in the 1980s, when Japanese enterprises engaged in a buying spree of overseas "trophy assets".
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