Chinese Middle Class Continues Surging
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 https://finance.yahoo.com/news/rich-chinese-us-bound-bank-235738165.html
2. https://www.property-report.com/chinas-economic-loss-is-the-us-property-markets-gain/
JINLIST.COM STARS AT LIBOR TECHNOLOGY FAIR
Having been selected as a Long Island Board Of Realtors (LIBOR) preferred vendor, JinList.com had a very successful show at the 2015 LIBOR Technology Fair. Real estate professionals from all over Long Island and Queens stopped by JinList’s booth to learn about its Service Plans for LIBOR members. Realtors showed strong interests in JinList.com, the leading platform dedicated to connecting U.S. real estate professionals with affluent Chinese buyers. Jin Zhao, President of JinList.com, was interviewed during the Fair by First Hampton International Realty on the Chinese buyers’ interest in New York real estate in general and in the Hamptons and Long Island in particular. The Technology Fair was a great success for JinListTM.
Zhao also pointed out that, with its affiliate sites, JinList.com has access to over 18 million active users in 363 cities across China including Hong Kong and Taiwan. Zhao further commented that JinList.com also connects with local high net worth Chinese buyers in 200 major cities across the U.S. Read More
JinList.com Earns LIBOR Preferred Vendor Status
September, 2015 saw JinList.com selected as a Preferred Vendor by the Long Island Board of Realtors (LIBOR). Karen Yan, Executive Vice-President of JinList.com, said that the JinList.com team is very excited about this prestigious selection by LIBOR. Yan further commented how JinList.com will help LIBOR’s 20,000 plus members connect with affluent Chinese buyers in China and the U.S. She said that by working with its affiliate sites in China, JinList.com connects high net worth Chinese buyers not only in major metropolitan cities such as Beijing and Shanghai, but 363 cities throughout China plus Taiwan and Hong Kong. We are ready to provide the best service to the LIBOR membership, she said... Read More
About JinList.com
JinList.com is a professional online platform dedicated to connecting affluent Chinese buyers with real estate professionals.
JinList™ has direct access to over 11.8 million registered users in 363 cities throughout China behind its Great Firewall. It is also connected with local Chinese communities in over 200 cities in North America. JinList™ helps real estate professionals and developers promote their expertise, brand and property listings among high net worth Chinese buyers. JinList™ has a dedicated professional team based in Shanghai, China and Great Neck, NY. JinList™ local translators get your listings seen in China and translate your property descriptions in idiomatic Chinese.
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