Wanda chief slams Beijing's controls on China property market

Hong Kong

CHINA'S richest man, Wang Jianlin, criticised the country's close control of its property industry, saying the "excessive cyclicality" caused by that was a reason for his conglomerate's planned move to exit the real estate development business.

China has been tightening home and land purchase requirements in major cities since mid-last year to tame a housing bubble, after loosening in the previous year to drive economic growth.

The criticism is a rare one from Mr Wang, who has previ…