Beijing acts to boost real estate in wake of yuan fall

Beijing

CHINA loosened restrictions on foreign investment in real estate after the yuan's depreciation reduced the appeal of Chinese property assets.

Overseas companies' Chinese units and foreign nationals working and living in China can buy properties for their own use that meet "real needs", Chinese authorities including the Ministry of Commerce said in a joint statement. Requirements that foreign investors should have paid their registered capital in full before borrowing local loans are removed, according to the statement, dated Aug 19.