China property now a 'buy': BlackRock
The country is reforming and expectations are low, says Helen Zhu, BlackRock head of China equities
Singapore
AS China transitions from an old investment-fuelled economy to one that is services-oriented, BlackRock head of China equities Helen Zhu is beating the drums for a distinctly old economy sector: property.
"Most people hate Chinese property. We're putting our neck out there and saying, you know what, it's all in the price, and in fact the delta of change is very positive," Ms Zhu told The Business Times on Monday.
The government is slowly easing its cooling measures introduced a few years ago, inventory is being reduced, and funding costs are coming down as developers are allowed again to issue bonds onshore, she said.
At the same time, some property names traded at a 50 to 70 per cent…
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