1. Overall view
The China-investor index is 60.
2. FX
USD/CNY is around 6.7109 and CNY/JPY about 23.18, leaving CNY purchasing power relatively strong.
3. Property
Tokyo liquidity is deep, although prime yields are low.
4. Exit
Higher Japanese rates increase medium-term valuation risk.
5. Meaning for Chinese investors
FX attractiveness and the legal ability to transfer mainland funds are separate questions. Bank, FX and source-of-funds requirements should be confirmed before contracting.
6. Risks
Funding execution, yen appreciation, yuan policy and Japanese non-resident reporting are key risks.
7. Conclusion
The environment is slightly favorable for investors with confirmed funding routes, but not for buyers whose settlement funding remains uncertain.