China Daily (Canada) - - SHANGHAI -

Chi­nese buy­ers spent $93 bil­lion on res­i­den­tial prop­er­ties, nearly $208 bil­lion on mort­gage­backed se­cu­ri­ties, as well as al­most $17 bil­lion on com­mer­cial real es­tate in the United States be­tween 2010 and 2015, ac­cord­ing to a re­port by Rosen Consulting Group and the Asia So­ci­ety.

How­ever, de­spite this sig­nif­i­cant ex­pen­di­ture, Chi­nese in­vestors only ac­counted for 10 per­cent of all for­eign di­rect in­vest­ment in the US. The re­port also showed that Chi­nese buy­ers paid an av­er­age of $831,800 for US homes in 2015, a stark con­trast to the $499,600 spent by other international buy­ers. Most of the homes bought by Chi­nese were in Cal­i­for­nia (35 per­cent), fol­lowed by Wash­ing­ton (8 per­cent) and New York (7 per­cent).

A house­hold man­age­ment com­pany in Shang­hai has re­cently in­tro­duced a pre­mium house­hold sort­ing ser­vice to clients, ac­cord­ing to the of­fi­cial web­site of Jiefang Daily. In con­trast to reg­u­lar ser­vices, this new op­tion pro­vides clients with a com­pre­hen­sive com­part­men­tal­iza­tion of their be­long­ings for easy re­trieval and ac­cess. The ser­vice costs be­tween 50 and 70 yuan per hour, twice the rate of stan­dard house­hold main­te­nance fees. The com­pany said that it de­cided to launch this new ser­vice after a survey polling 100 house­keep­ers re­vealed that about 80 per­cent of white col­lar work­ers face prob­lems with sort­ing their clothes, files and daily ne­ces­si­ties.

As many as 300,000 people had the chance to pre­view the Shang­hai Dis­ney­land since the at­trac­tion be­gan its trial oper­a­tions on May 7, the Ori­en­tal Morn­ing Post re­ported. As China’s big­gest-ever for­eign in­vest­ment project, the theme park is a joint ven­ture be­tween Dis­ney and Shang­hai Shendi Group, with Dis­ney hold­ing a 43 per­cent stake. The Shang­hai Dis­ney Re­sort will hold its grand open­ing on June 16.

US-based cof­fee chain op­er­a­tor Star­bucks Corp will launch its first cof­fee roaster in Shang­hai by the end of 2017, ac­cord­ing to Reuters. The store, the first of its kind outside the US, will be lo­cated on West Nan­jing Road. The first Star­bucks cof­fee roaster was opened in Seattle in December 2014 and the sec­ond is about to open in New York. China is cur­rently Star­bucks’ largest over­seas mar­ket after its home mar­ket — the US chain has opened a to­tal of 2,100 stores across China to date.

There are cur­rently around 6,000 cafes in Shang­hai, with 800 of them hav­ing opened last year, ac­count­ing for a yearly growth rate of 15 per­cent, ac­cord­ing to La­bor Daily. “The ac­tual num­ber of new cafes was around 1,200, but quite a few stores were forced to shut down after a very short time due to the high cost of la­bor and rent,” said Dong Pengfei from the Shang­hai Food As­so­ci­a­tion.

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