Friday, March 16, 2012

Policies, not personalities, key in China: CapitaLand

Business Times: Fri, Mar 16
CAPITALAND, one of Asia's largest real estate companies, remains bullish on investments in China despite the dramatic dismissal of Bo Xilai, Chongqing's charismatic but controversial Communist Party chief.


Liew Mun Leong, president and CEO of CapitaLand Group, said: 'I am not worried about whether the party secretary has been changed because we don't sleep with the enemy.'


'When Chen Liangyu left Shanghai as a party secretary (in 2006 on corruption charges), nothing happened to us because we did not collaborate with them.'


Mr Bo's dismissal comes a day after Premier Wen Jiabao launched a scathing attack urging Chongqing's municipal party committee and municipal government to reflect and learn from the Wang Lijun debacle that has rocked the municipality.


Mr Wang, Mr Bo's right-hand man and Chongqing's ex-police chief, absconded to the US consulate in Chengdu last month, where he reportedly sought political asylum.


Given the regulated nature of the real estate business, Mr Liew noted that there would still be a need to anticipate government policy changes but believes that the change of leadership will not lead to uncertainty and instability given China's improved track record of replacing former leaders with higher-calibre individuals...

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