China Property

China’s property market has surged in recent years. After prices jumped 25 per cent in 2009 alone, the central government imposed austerity measures, including lending curbs, higher mortgage rates and restrictions on the number of homes each family can buy.

Chinese Estates cited ‘optimism’ about the overall prospects of Evergrande, which develops large-scale residential and commercial properties in the mainland. Photo: AFP

Chinese Estates builds Evergrande stake as shares surge

Chinese Estates, a Hong Kong property developer, said on Thursday it has spent HK$12 billion in the past six months building a 6.2 per cent stake in China Evergrande, as the latter’s stock quadrupled in the same period.