Don’t write off Chinese property: Mike Smith

Mike Smith: China still has momentum

ANZ CEO Mike Smith has defended the health of the Chinese property market, and warned against extrapolating small amounts of regional data and applying it across the country. 

"[I’ve been] going up into Beijing and Chongqing, meeting with customers, meeting with government officials, and really finding out what is happening [and] the economy is still going pretty well."
Mike Smith, CEO, ANZ

Speaking exclusively to BlueNotes, Smith said he had spoken to some local property developers on a recent trip to China, who said they were doing quite well.

“There’s no doubt things have slowed down [in China], but it’s the same as property developers [in Australia],” he said.  “If you’ve got great property, in the right place, you’ll be doing ok.”

“There’s no doubt there’s still overcapacity but when looking at the supply of property, versus demand, there is still a huge amount to be done.”

The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.

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