By Clement Tan
HONG KONG, Oct 16 (Reuters) – China property stocks offer good investment opportunities as Beijing engineers a soft landing for a sector that is seen crucial for the broader economy, according to a fund manager at JP Morgan Asset Management.
“Beijing cannot afford to let its property sector drop too much,” Emerson Yip, who co-manages the JF Greater China fund, which had assets of $647 million as of end-August, told a media briefing late on Monday.
With prospects of a recovery in its manufacturing sector uncertain due to a weak global demand for its exports, Beijing will need to rely on the real estate sector to maintain growth, Yip said. He declined to mention specific stocks.