(Beijing)–China's distressed property market has been spread like a banquet before the nation's asset management companies (AMCs), but a regulator apparently doesn't want anyone gorging.

Four state-run AMCs – China Cinda Asset Management Co., China Huarong Asset Management Corp., China Orient Asset Management Corp. and China Great Wall Asset Management Corp. – have gobbled up real estate trust holdings amid a two-year slowdown in the new-home market.