Pursuits
China Property Market Threatened by Stock Rout
Chinese property
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On June 10, as the Shanghai Composite Index was heading for a seven-year peak, Wan Xinjian borrowed the maximum he was allowed from his brokerage to buy more stocks.
As the market started to plummet on June 12, the 49-year-old businessman had to make contingency plans and eventually sell a 7.8 million yuan ($1.3 million) flat he was renting out for investment income in Shanghai after Haitong Securities Co. called in his margin loans.