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May 13, 2013

Rich Chinese boost investments abroad

  • Real estate makes up the bulk of investment and top destinations include the United States, Canada, Hong Kong and Singapore.
    • By JOE McDONALD
    AP Business Writer

    BEIJING — China's richest people are stepping up investment in U.S. real estate and other foreign assets as they try to preserve their fortunes in the face of a fast-changing economy, a report said Tuesday.

    The report by China Merchants Bank and the consulting firm Bain & Co. in China reflects uncertainties about abrupt shifts in an economy in which growth slowed last year to 7.8 percent from the past decade's double-digit rates.


     
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