Chinese authorities put pressure on Hong Kong real estate developers?The housing problem and political struggle behind-BBC News

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In the wave of Hong Kong demonstrations, many graffiti criticized the local houses for too high prices or rents, but the area in exchange for the houses was very small. The sentence in the picture criticizes: “The monthly rent of 12,000 yuan is exchanged for 120 square feet. Do you think this is okay?”

Reuters earlier quoted sources as saying that in a private meeting, Chinese officials indicated to Hong Kong developers that the rules of the game have changed and that Beijing will no longer tolerate monopolistic behavior and demand that Hong Kong real estate developers help solve local housing problems. When the Hong Kong media followed up on the report, they quoted sources saying that Chinese President Xi Jinping stated clearly in an internal meeting that the practice of real estate developers to influence the situation in Hong Kong is gone forever.

The news that Beijing reportedly exerted pressure on developers caused local discussions, and the shares of many real estate companies fell.

A number of real estate giants have tried to cool down the argument. Among them, Sun Hung Kai Properties pointed out in response to Hong Kong media inquiries that the company had not received relevant news and never approve of monopolising the market. Shi Yongqing, one of the founders of Centaline Property, also described the Beijing government’s statement of pressure on real estate developers as “too true.” He does not believe that the central government will “instruct” real estate developers to do anything and “force them to the corner.”

Analysts believe that Beijing’s series of actions seem to be deliberately weakening the influence of real estate developers.

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