Property Shares Fall After China Targets ‘Unregulated’ Expansion
- Premier Li calls for risk prevention in major developers
- China sets modest growth target as economic headwinds persist
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Chinese real estate shares fell after the government said it would target disorderly expansion in the sector, underscoring concerns for the nation’s battered developers.
Beijing pledged to prevent “unregulated” expansion in real estate and promote stable development, Premier Li Keqiang said on Sunday at the annual session of the National People’s Congress — the Communist Party-controlled parliament.