China nixes SOE real estate investment
PRC authorities have ordered SOEs to halt investments in China's real estate sector, in an effort to cool land prices and redirect stimulus capital.
The PRC's State-owned Assets Supervision and Administration Commission reportedly ordered 78 businesses ultimately controlled by central government to cease activity in the real estate sector. This followed all-time high prices paid in a residential land auction in Beijing earlier in the week. China commentators expected the move to benefit true real estate developers. True real estate SOEs, holding around 85% of all SOE real estate assets, would not be affected by the measure, however. Stimulus capital released by central government to offset the effect of the global financial crisis in China is thought to have been responsible for much of the recent land price escalation.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.