Chinese people invest more in real estate abroad
Control measures on real estate have stimulated many Chinese people's interest in investing in real estate abroad. Because of current control policies, 30% of home buyers have turned their attention from the domestic market to overseas. Statistics show investors from the Mainland and Hong Kong account for 10.8% of the share in the market of new homes in the US. At this year's Beijing Spring Real Estate Trade Fair the number of overseas real estate projects accounted for 40%, an all time high.
In tangentially related news. China intent on keeping the Eurozone (and their all-important imports of Chinese goods) afloat.
China Premier Wen repeats vow to buy Spanish government debt
China is willing to buy more Spanish government debt, China Premier Wen Jiabao was reported as saying on China's state television on Tuesday, a reiteration of China's commitment to support the beleaguered euro zone nation.