By Foreigners put more of their money in China last year as the countrys size and growth stood out in a world still trying to manage the coronavirus pandemic. In the capital city of Beijing, foreign investors claimed more than a third of commercial real estate deals, an increase from prior years, property manager JLL said Thursday.
Beijing is expected to remain a strong choice for foreign investors, particularly as the nations capital is predicted to see more signs of recovery sooner than most other major markets overseas, Michael Wang, senior director of capital markets for JLL North China, said in a release.
Covid19 first emerged in late 2019 in the Chinese city of Wuhan. The disease spread overseas and became a global pandemic within months. However, the outbreak stalled within China by the second quarter after authorities imposed strict measures to limit human contact. The government eased restrictions as local Covid cases dwindled, and China is expected to be the only major economy to post growth for 2020. The Chinese government would like to attract more foreign capital, whether in business projects or the local financial markets. Such participation contributes to international use of the Chinese currency, while foreign businesses bring jobs, tax income and expertise to the local market.
Businesses also put more money into projects in China last year, as measured by foreign direct investment. As of November, foreign direct investment for 2020 reached 129.47…
