From Bloomberg News via the International Herald Tribune (link)
Li Ka-shing, the billionaire who made his first fortune in Hong Kong real estate, said Thursday that he had invested more than 100 billion Hong Kong dollars, or $13 billion, in property in China and planned to buy more.
Li, 77, who stated that he had no plans to retire, said about 60 percent of his global land holdings were in China. These include 11 ventures set up in the past 13 months by Cheung Kong (Holdings), one of Hong Kong’s largest builders, and its unit Hutchison Whampoa, with investments from ports to oil.
China, the world’s fastest-growing major economy, expanded at 9.2 percent a year over the past decade, driving up land prices to such an extent that property values in Shanghai almost tripled in six years.
Technorati Tags: china economy
