Property News · April 5, 2017

Country Garden pledges refund for Forest City buyers caught in Beijing’s crackdown on capital outflows


Country Garden Holdings, whose Forest City project in Malaysia is the biggest overseas project by a Chinese property developer, said it will refund money to mainland investors caught up in Beijing’s escalating crackdown on capital outflows.
The move is the latest consequence arising from Beijing’s tighter policy on capital controls, with most Chinese developers engaged in selling overseas properties now forced to shift their focus from mainland buyers to other countries.
“We…

Source : South China Morning Post
Read more…Country Garden pledges refund for Forest City buyers caught in Beijing’s crackdown on capital outflows

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