Fidelity's Bolton warns on Chinese property outlook

Fidelity's Anthony Bolton has warned China's property sector faces major headwinds in the second half of 2011.

Bolton, who launched the Fidelity China Special Situations investment trust last year, said the harsh measures taken by the Chinese authorities to curtail growth and tackle inflation would impact the property sector later this year. According to Reuters, Bolton said: "My view on the China property market is we have had a series of tightening measures, unprecedented in their toughness. "I think the second half of this year will be very difficult, therefore I am quite happy I have minimal exposure to Chinese developers." Bolton, speaking at a briefing in Hong Kong, added he is favour...