Chinese Developers Move Inland Amid Property Curbs
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Chinese developers are building more homes in cities across the nation away from the financial hub of Shanghai and the capital Beijing, which may be the hardest hit by government measures to curb property prices.
China Vanke Co., the country’s biggest developer by market value, said an expansion into central and western Chinese cities, including Wuhan and Chengdu, helped 2010 revenue exceed 100 billion yuan ($15 billion), a target it had set for 2014, while Evergrande Real Estate Group Ltd. counted on towns in the nation’s interior to boost sales.