Why Chinese property developers are targeting sites outside of China

Faced with a tough property market at home, Chinese developers are increasingly acquiring land overseas, including Australia.

From a sales revenue of ‘only’ RMB 1.2bn (equivalent to A$ 207 million) per annum in 1998, to a staggering revenue of RMB  170.9bn (A$ 29.4bn) in 2013, Vanke has surely created history in the world of property development. 

But the Chinese publicly listed company is not the only one to make a big profit. In fact, since 1998, the fast pace of property development industry in China has made a large number of billionaire and multimillionaire developers. While at the same time, the term “property developers” in China has been associated with terminologies such as “corruption”, “astronomical price”, “ridiculously huge profit”, it seems Chinese developers are among one of the most negatively seen groups in China.

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