Property developers in China spent more than $42bn on domestic mergers and acquisitions in 2016, as high land prices prompted large companies instead to swallow smaller rivals and snap up discounted existing projects.
A government push for state mergers added further fuel to property sector deals, which hit an all-time high last year — up 32 per cent in value from 2015, according to Wind Information, a Chinese financial data provider.
Analysts expect the trend to carry on in 2017 as land prices continue to climb in first- and second-tier mainland cities.
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