Over the Spring Festival holiday I met someone who runs a company providing serviced apartments to businessmen working near the Guomao area in Beijing. He mentioned that he’d noticed a few changes in his clientele since the onset of the global financial crisis. For one, fewer Japanese and more Americans. Furthermore, those Americans are generally staying for longer periods, six months to a year compared with one to three months, as they look for more long-term opportunities in China.
Seems like confirmation of anecdotal musings by our editor Tim a few months ago as to whether the bars in Hong Kong, Shanghai and Beijing will soon be filled with i-banking castoffs. We may all have to invest in some new shirts with French cuffs if we’re going to fit in.