When attending an investment meeting in Singapore, Jim Rogers, a renowned investor, said big changes are in store for the Chinese real estate market. He predicted that, given the Chinese government attaches great importance to the real property market and is trying their best to dampen speculations, it is likely some investors will face bankruptcy this year.
In fact, Mr. Rogers' perspectives about Chinese real estate market turned gloomy last year. Last September, he observed that the Chinese government had noticed bubbles in the industry because it adopted a series of tight measures attempting to cool down the market. He did not think Shanghai was suitable for real estate investment. He recommended second- or third- tier cities to Chinese citizens for making such investments.
For more details, please read the full story in Chinese. (http://www.morningpost.com.cn/article.asp?articleid=117313)
(China.org.cn February 21, 2008)