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New ways to make money in China
By Song Jingli and Hao Yan (chinadaily.com.cn)
Updated: 2010-05-14 17:10
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Wenzhou wealthy look to commercial property
 A woman cycles through Jianwai SOHO, a residential and commercial development in Beijing. [Agencies] |
To invest in commercial properties or pour money into luxury apartments, this has been the question frustrating Wenzhou businessman Alex Wang since the government launched its rigorous policies to curb speculative home purchases in mid-April.
"Though recent tightening real estate policies have made property investment riskier, it is still a comparatively safer bet than stocks. And because of the strong inflationary expectations, you have to find a place to put your money," Wang said.
Wang's thinking is quite typical among Wenzhou investors, regarded as the most astute business people in China. Industry experts estimated that Wenzhou's private capital could be around 600 billion yuan. Due to limited investment channels, quite a number of them still chose property as their primary investment tool. But this time, they are looking to commercial properties and high-end residential projects. [Full Story]