Vanke Chair Urges for Continue Real Estate Curb

(Singapore) – Wang Shi, chairman of China's largest-listed property company Vanke, said the Chinese government's failure to follow through on current property control measures could have devastating effects on the economy.

Speaking at the Future China Global Forum 2011 hosted in Singapore on July 11, Wang said that China's economy will not be able withstand a property bubble collapse similar to what Japan experienced in the 1990's, given its comparatively weak fundamentals. He also said stagflation is a growing concern in China.