Second of a Two-Part Series

Remember the talk of alternate investments that clogged the airwaves in the first part of the year? (You might remember; it was before talk of credit crunches took its place.) So popular is the foreign push into China that target plays in cities such as Hong Kong and Beijing are disappearing apace, and second-tier cities are rising in incoming investors’ sights. It was, in fact, a recurring theme at Mipim Asia, where we learned that the dynamic is being goosed along by the national government. This insight came from Roy Lee, general manager for DTZ in the Chengdu region. Lee took some time out for during the conference to explain how the dynamic is playing out and what it will mean going forward. It should be said–and this figures heavily in the topic at hand–that Lee spent 30 years in the US. He was raised in Los Angeles and worked in San Francisco before moving to China for a four-year stay from 1991 to 1995. He’s now in his second stint there, a stay that started in 2001. Why the focus on second-tier cities?

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