From China Daily:
Speculators from Wenzhou who contributed to the hike in real estate prices in China’s large cities, are moving their money to Malaysia.
A tour group is departing from Wenzhou for Kuala Lumpur and Genting on Friday. With most of the members being entrepreneurs and professional investors, the group looks like it will be doing more scouting property than sight-seeing.
Wenzhou is located in coastal Zhejiang Province, the richest area on the Chinese mainland, and many of the people there accumulated their wealth from manufacturing clothes and commodities such as lighters and drinking straws….[Full Text]
