A construction site for a residential tower in Shanghai. Chinese property developers are buying back their own shares as the outlook for their business dims in the face of government measures to cool the housing market. Photo: AFP

Chinese developers buy back their own shares to prop up prices as business prospects dim

Eight property firms have spent US$560 million on their own stock in July, but investors remain downbeat over the outlook for the industry as Beijing cracks down

Topic |   China property

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A construction site for a residential tower in Shanghai. Chinese property developers are buying back their own shares as the outlook for their business dims in the face of government measures to cool the housing market. Photo: AFP
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