Smart Money in China Cuts Back on Property

SHANGHAI—For years, Chinese property has been a sure bet for savvy investors looking to ride the country’s economic surge. Now, some of the best-known names in Chinese investing are cutting back, at least for the present. Since September, Hong Kong tycoon Li Ka-shing, widely considered Asia’s richest man, has sold office and shopping-mall projects in the cities of Shanghai and Guangzhou. His son, businessman Richard Li, sold a prime piece of real estate, a mixed-use complex in Beijing’s Sanlitun shopping district, for US$928 million in early April…more

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