China’s big developers shrug off short-term virus impact to splurge on land

HONG KONG (Reuters) - China's top developers are prising open their war chests to snap up land this year as local governments sell more prime real estate to boost revenues and smaller, distressed property firms look to offload assets as the coronavirus takes a toll. Many of the country's major property companies said at recent earnings conferences that they planned to ramp up spending thanks to a faster-than-expected sales recovery in the first quarter and more abundant liquidity.Others said..