Quotable

Stop imagining that China's property market will collapse. There is no possibility of that."

Wang Jianlin, China's second-richest man and president of the developer Wanda Group, said the real estate industry had entered a state of "new normal" and would neither boom nor bust in the next year. He also dismissed concerns over a housing market crash, saying moderate leverage levels, strong government leadership and urbanization potential would prevent such a bust.