China Richest Man Not Worried About Fed Tapering

China’s property market is unlikely to take a hit from tighter liquidity when the Federal Reserve starts to taper its bond buying program, said Wang Jianlin, chairman of Dalian Wanda, a commercial property-to-karaoke-outlet conglomerate, and also China’s richest man according to Forbes magazine.

“The tight liquidity will push up interest rates. But I don’t think interest rates will go up by too much,” Wang told CNBC in an exclusive interview, adding China’s economy also doesn’t move in lock-step with global markets.

“Because the profit margin for China’s real estate industry is above the global average, a 1 percent to 2 percent rise in interest [rates] will have very limited impact on the profit margins of bigger property players,” added Wang.

via CNBC

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