The move is the latest consequence arising from Beijing’s tighter policy on capital controls, with most Chinese developers engaged in selling overseas properties now forced to shift their focus from mainland buyers to other countries.
More details, click below link :
Country Garden pledges refund for Forest City buyers caught in Beijing’s crackdown on capital outflows
In early March 2017, South China Morning Post also reported the company has closed all sales centres in mainland China for its flagship Malaysian housing project amid Beijing’s intensified crackdown on capital flight.
Detailed news, click below link :
Country Garden halts Malaysian housing sales amid capital flight crackdown
Daily chart of Country Garden.
Despite the negative news, the above chart showed no impact on the company's share price and it still able to climb higher.
Prior to it, South China Morning Report reported the company spent more than any other Chinese developer on land acquisitions last month as it pursues faster sales growth in a bid to catch rivals China Evergrande Group and China Vanke, on 7 Feb 2017.
The company splashed out 10.2 billion yuan for 14 land parcels last month, including a 2.25 billion yuan residential site on the outskirts of Shanghai. The other plots are all in smaller cities such as Hangzhou, Nanchang and Wenzhou, according to a report by Tospur Real Estate Consulting.
More detailed news, click below link :
Developer Country Garden led its rivals in January’s land purchases
This news drove the company's share price to break out its sideway range on 7 Feb 2017 with high volume transacted as shown by S-Trader Volumetric.
Source :
1) Metastock
2) www.scmp.com
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