China’s skyline shopping spree in heart of Hong Kong | 2017-11-09

China’s skyline shopping spree in heart of Hong Kong

9 November, 2017 12:00 AM printer

HONG KONG: Chinese investors' penchant for Hong Kong real estate is well-known and as they take aim at the city's most prestigious buildings and office space, mainland cash is driving one of the world's priciest markets to break new records.


With the Communist Party's hand seen behind the latest record purchase, some analysts raised questions about where the enormous cash flows would go as the Chinese government strengthens control over the former British colony, reports AFP.


Beijing's growing restrictions on overseas investment including in property have held back some Chinese conglomerates as the country's leaders seek to stem capital flight and counter a weak yuan.


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