Amundi Says China Property Crackdown Will Boost Demand for Funds
- Investors to shift to stocks, bonds as real estate slumps
- Amundi remains open to setting up stand-alone fund business
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China’s crackdown on the property sector, which has sparked defaults at China Evergrande Group and others, should provide a lift to stocks and bonds as investors shift away from real estate, a top executive at Amundi SA said.
“We are going to see money flowing from real estate investments to capital markets investments,” said Xiaofeng Zhong, chairman of Amundi’s business in the Greater China area. “The government is encouraging funds flowing into the financial market.”