Foreign investors have begun eyeing investments in struggling Chinese and Hong Kong property companies as the market continues to slow under government controls, The Wall Street Journal reported. French insurer AXA SA (CS.FR) is planning to invest US$2.6 billion in China over the next five years, while Germany’s SEB Asset Management AG said it is eyeing residential and office projects in the hope to repeat a prior US$400 million investment. Other firms including Hong Kong’s ARA Asset Management and China-based Citic Capital are also seeking targets. In separate news, Hangzhou Glory Real Estate became the first Chinese developer to file for bankruptcy since government curbs were introduced last year, the South China Morning Post reported. “More debt-ridden developers will have to liquidate if the government chooses not to relax controls,” said Huang Feng, chairman of Yinshu Capital.
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