Even with the worldwide economic downturn, more people are becoming wealthier in China.
According to a report on private property released by China Merchants Bank and consultancy Bain & Company on March, 30, 2009, there will be 320,000 people who each possess at least 10 million yuan ($1.46 million) of assets by the end of 2009, up 6 percent from 2008.
Including cash, stocks, funds, securities and real estate investments, the total assets covered in the report are expected to surpass 9 trillion yuan ($1.29 trillion) in 2009, up 7 percent from 2008.
The survey investigated 700 interviewees by questionnaires or face-to-face interviews. All the respondents had property of at least Read more…
Popularity: 2% [?]
China, crisis, downturn, economy, property, report
Over half of almost 800 wealthy Chinese who have been surveyed hold the opinion that the growing financial disparity between the rich and the poor also leads to the appearance of an upper class in the country.
Best Life, a life style magazine, carried out the survey, interviewing 792 wealthy Chinese in 62 cities from 27 provinces with the help of local chambers of commerce. The interviewed people were private entrepreneurs possessing property of over 10 million Yuan, i.e. 1.4 million dollars. The magazine said in June, over Read more…
Popularity: 1% [?]
China, city, crisis, economy, property, province
During the past National Day holidays, the Golden Week, property transactions in China’s major cities witness an ever-time low as more potential homebuyers decided to wait and see.
Statistics from the Beijing Real Estate Transaction website showed that the average daily deals over the last week fell to 69 units, which are 72% down year-on-year in the capital. It brought the worst situation for the property sector.
Even Shanghai Autumn Real Estate Expo, which implies the state of the industry, attracted 130,000 visitors from Oct 1 to 4,which were as many as in 2006,its transaction volume Read more…
Popularity: 1% [?]
homebuyer, low, property, transaction, wait
Even with the worldwide economic downturn, more people are becoming wealthier in China. 
