Macquarie looks to Chinese real estate market

BEIJING: Macquarie Group, the biggest Australian securities firm, is seeking to develop real estate trusts in China, even though financial markets are being roiled by a credit crunch and China is clamping down on property speculators. Macquarie is in talks with regulators and institutional investors including insurers and pension funds to help build a market in China, Andrew Low, head of corporate finance in Asia, said Wednesday in Beijing. The discussions are "nearing fruition," he said without elaborating.