[photopress:beiing_forbidden.jpg,full,alignright]Despite the hype a report from the Beijing Bureau of Statistics suggests that overseas funds contributed only 5.6% to the total capital inflow in the 344 overseas-funded real estate companies in Beijing in 2006.
The primary capital source was deposits for earnest-paid orders and bank loans, which accounted for 42.3% and 19.9% respectively of last year’s total capital inflow.
344 firms built projects worth RMB26.7 billion last year, which was 15.5% of the total investment in the capital city’s real estate sector.
Meanwhile, they reported profits of RMB4.99 billion on the basis of RMB32.33 billion of business volume.
Source: China Daily