China's Large Developers Poised for Long-Term Run

HONG KONG -- China's property prices keep plowing higher despite government efforts to check them. Their resilience suggests continuing opportunities for investors with an appetite for risk. In recent months, mainland Chinese officials have taken steps to curb speculation in the booming real-estate market and control the growth of an asset bubble that could threaten the wider economy. Last Thursday, authorities formally announced an increase in mortgage rates and down-payment requirements for those buying second homes. For second apartments and apartments for commercial use, mortgage-loan rates will rise to 1.1 times the benchmark one-year lending rate. Those buying second homes ...