People’s Republic of China, is a sovereign state located in East Asia. It is the world’s most populous country, with a population of over 1.35 billion. The PRC is a single-party state governed by the Communist Party, with its seat of government in the capital city of Beijing. It exercises jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities (Beijing, Tianjin, Shanghai, and Chongqing), and two mostly self-governing special administrative regions (Hong Kong and Macau). The PRC also claims Taiwan – which is controlled by the Republic of China (ROC), a separate political entity – as its 23rd province, a claim controversial due to the complex political status of Taiwan and the unresolved Chinese Civil War.
Covering approximately 9.6 million square kilometers, China is the world’s second-largest country by land area, but only the third or fourth-largest by total area, dependent on whether the surface areas of various inland bodies of water such as the Great Lakes are included in the total area of a country. China’s landscape is vast and diverse, ranging from forest steppes and the Gobi and Taklimakan deserts in the arid north to subtropical forests in the wetter south. The Himalaya, Karakoram, Pamir and Tian Shan mountain ranges separate China from South and Central Asia. The Yangtze and Yellow Rivers, the third- and sixth-longest in the world, run from the Tibetan Plateau to the densely populated eastern seaboard. China’s coastline along the Pacific Ocean is 14,500 kilometers (9,000 mi) long, and is bounded by the Bohai, Yellow, East and South China Seas.
The ancient Chinese civilization – one of the world’s earliest – flourished in the fertile basin of the Yellow River in the North China Plain. For millennia, China’s political system was based on hereditary monarchies, known as dynasties, beginning with the semi-mythological Xia of the Yellow River basin (c. 2000 BCE). Since 221 BCE, when the Qin Dynasty first conquered several states to form a Chinese empire, the country has expanded, fractured and been reformed numerous times. The Republic of China overthrew the last dynasty in 1911, and ruled the Chinese mainland until 1949. After the defeat of the Empire of Japan in World War II, the Communist Party defeated the nationalist Kuomintang in mainland China and established the People’s Republic of China in Beijing on 1 October 1949, while the Kuomintang relocated the ROC government to its present capital of Taipei.
Since the introduction of economic reforms in 1978, China has become the world’s fastest-growing major economy. As of 2013, it is the world’s second-largest economy by both nominal total GDP and purchasing power parity (PPP), and is also the world’s largest exporter and importer of goods. China is a recognized nuclear weapons state and has the world’s largest standing army, with the second-largest defense budget. The PRC has been a United Nations member since 1971, when it replaced the ROC as a permanent member of the U.N. Security Council. China is also a member of numerous formal and informal multilateral organizations, including the WTO, APEC, BRICS, the Shanghai Cooperation Organization, the BCIM and the G-20. China is a regional power within Asia and has been characterized as a potential superpower by a number of academics, military analysts, and public policy and economics analysts.
Real estate in China is developed and managed by public, private, and state-owned red chip enterprises. Currently the market is experiencing slow but steady growth and the central government has implemented measures to tighten interest rates, increase deposit and impose restrictions.
The upswing in the U.S. property market is attracting Chinese developers and investment firms, and they are dipping their toes into new cities.
While Chinese institutional investors are still drawn to their traditional favorites of New York, Los Angeles and San Francisco, many are now also headed to cities such as Houston, Boston and Seattle as they seek geographic diversity as well as bigger lot sizes.
These other cities—lesser known to some Chinese firms—now appear to offer fresh opportunities as energy or technology drives their economies and local Chinese communities expand.
Chinese property investors—from big players like sovereign-wealth funds and insurers to smaller ones such as local fund managers—are attracted to the U.S. market in general because of the economic recovery, ample market liquidity, and the stability of returns, real-estate consultants say. Rental properties in the U.S. typically have longer leases compared with China’s, and hence are less prone to disruptions or volatility.
California, with its historical ties with Asia, has the biggest Chinese population in the US and accounts for more investment deals from China than any other US state. Now, Asians are flocking D.C Metropolitan area for investment properties. US is attracting Chinese investors, paying cash for single family homes in Maryland and Virginia.
US is attractive for Chinese to settle down close to their children in nearby schools and universities. The Chinese that X-Class realtors have worked with in the past loves the clean air, luxury living and the American lifestyle, “which continues to be motivation for Chinese buyers”, said Jimmy Fasusi, Principal at X-Class Realtors.
The number of documented Chinese investments in US real estate has increased from virtually zero five years ago, said the Asia Society report. A new trend is of Chinese property firms acquiring projects in the U.S.
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