Domesitc Funds Leaving China In Flight For Safety

More than a dozen Chinese developers gathered for breakfast at a Los Angeles hotel one Sunday earlier this month before taking off for meetings with property brokers, attorneys and potential business partners.

The visitors, none of whom have invested in U.S. real estate development before, would then catch an evening flight to San Jose, California, and meet with more property executives there and in nearby San Francisco. In all, they would stop in six cities over 14 days, including New York and Washington.

“We like the stable and mature investment market in the U.S. relative to the Chinese market,” Jianrong Qian, chairman of Shanghai-based Chiway Holding Group Co., said through an interpreter before heading off to eat with the rest of his group at the InterContinental hotel in Century City. “We were encouraged by the pace of the recovery here in the U.S. after the financial crisis. It shows the resilience of this market.”

Bloomberg

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