Chinese coastal capital spreads to Sichuan

Departing from the economic model in the rest of China, namely massive foreign investment, Chinese investment dominates Chengdu.

The real estate market in the once-sleepy capital of China's north-west capital of Sichuan is attracting a lot of investor interest from Wenzhou in China's eastern Zhejiang province. Some 40% of properties sold last year in Chengdu were sold to outsiders - and a lot of these went to deep-pocketed Wenzhou citizens on the prowl for bargains, say Chengdu citizens.

Wenzhou people come to Chengdu for property as if they were picking dishes in a restaurant, says one local real estate agent with a mixture of irritation and admiration.

About Rmb280 million is estimated to have been poured into the city by Wenzhouese last year, while at a December property fair...

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