| From Chinadaily.com.cn: The collapse of a 13-storey apartment building in Shanghai symbolizes the future of the Chinese property market. This is the belief of some commentators, but Ren Zhiqiang begs to differ.
One of the leading figures in the realty industry, Ren wrote in his blog that the housing market was still strong. The president of Beijing Huayuan Group criticized a CCTV program for saying the Shanghai project had a profit margin of 360 percent. The actual gross profit in the industry doesn't exceed 100 percent, he contended.........Full Article: Source
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