According to Standard & Poors, the move to downgrade the country's sovereign credit standing is a resounding "yes." Chan says he understands why S&P made the decision, but he doesn't see major negative impact on the economy. New rules hurt property marketWhile the one-notch downgrade may not effect Chan's commercial property business, his Chinese peers in the residential real estate sector have been hammered by recent policy news. The housing controls do not faze Chan either, "The best way to manage real estate is by managing supply... to manage demand is not preferred." "When you have a country as big as China, you're going to have differential between city to city," says Chan.

Source: Forbes October 05, 2017 00:45 UTC