Country Garden Holdings: China's capital controls no serious impact on Forest City project

Massive project: A panoramic view of Forest City during sunset. The whole project is expected to take more than 20 years to complete.

PRIVATE Chinese developer Country Garden Holdings Co Ltd (CGH) says Beijing-imposed capital controls have not really impacted its Forest City project although 70% of buyers last year were Chinese nationals.

Its chief strategy officer Yu Runze says there have been some rather negative statements made regarding CGH soon after Beijing imposed capital controls to curb its outflow of funds.