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Chinese Middle Class Continues Surging

2015-11-30  Source:jinJist.com

According to an October release of Credit Suisse Global Wealth Report 2015, China's middle class population reached 109 million, with a combined total family wealth of US$22.8 trillion. According to this report, China has become the world’s largest country in terms of middle class population, exceeding the U.S., which has 92 million middle class. The report estimates 79.5% of Chinese middle class have their assets in real estate, while only 10.8% have wealth in financial assets.

Mr. Jin Zhao, CEO of JinList.com, noted that this explains why Chinese traveling to the U.S. have shown an inclination of investing in real estate.

In addition, there are signs that China's economic slowdown is spurring the country's wealthy to put assets overseas, particularly in the U.S. A September survey by FT Confidential found that 61% of rich Chinese surveyed planned to boost overseas holdings over the next two years and almost half said they planned to offshore more than 30% of their fortunes. They indicated much of that investment would go into businesses, commercial investments and financial products1. These purchases are not only limited to New York, California and other major cities, but it is expanding to include secondary cities. Wealth X recently reported that 'clusters of wealth' such as Houston, Texas could be the new emerging markets attracting rich Chinese2.

Mr. Zhao noted that with servers in both Shanghai China and the U.S., Jinlist.com provides a more efficient and pleasant search experience for these potential Chinese buyers without Great Firewall delays and blocking issues. Zhao went on to mention how affluent Chinese and American buyers in the U.S. can also access JinList.com using its English as well as Chinese bilingual language features.

JinList.com has specialized Commercial and Investment sections of their site for real estate investment projects to be marketed to affluent Chinese investors. With household income of over 5 Trillion dollars per year, plus untold more in savings, this is an ideal demographic for this type of investments. With the Chinese middle class continuing its growth, they are looking for ways to move their wealth out of China. Investing in real estate backed projects may be an attractive vehicle for an even larger number of middle class Chinese.

Note:
1. CNBC article  http://finance.yahoo.com/news/rich-chinese-us-bound-bank-235738165.html
2. http://www.property-report.com/chinas-economic-loss-is-the-us-property-markets-gain/

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