Posted To: Community Commentary
I visited China in 2005 and 2007. In addition to seeing Shanghai and Beijing, I got an opportunity to see many historical sites, including Ping Yao. Ping Yao is 14th century well preserved walled city in the Shanxi Province of central China. At one time, it was the financial center of China during the Qing Dynasty. During my visit, I visited a couple of banks in Shanghai with one of my mortgage banking clients who speaks Mandarin. He acted as my interpreter as I quizzed the bank managers of the two banks. My objective was to get some information on if and how banks were providing financing for the rapid growing real estate market. At this time, there was a boom in condo construction in Shanghai and they were selling as high as 2 million dollars. The government had recently loosened up ownership…(read more)
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Original post by C.M. "Corky" Watts, CMB
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