29.11.2010 - Property developers China’s worst performers
From Forbes.com: The worst performing group on the Shanghai Composite Index this year are China’s property developers, and BNP Paribas says to expect the correction in Chinese real estate prices due to lending curbs and tighter money to intensify into 2011. This is the result of direct government action and it is bound to have a negative impact on the whole Chinese economy. Private housing accounts for 13% of total investment in urban areas, and home construction accounts for 14% of all workers in urban areas, according to dailymarkets.com. Home construction also consumes around 40% of the steel and lumber produced in China...........................................Full Article: Source
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