The first business day started with a visit to Jones Lang LaSalle, a real estate developer that has been involved in real estate transactions throughout China. The presentation was very informative as we got a chance to understand the residential and commercial real estate market in and around Shanghai, the mechanics of acquiring real estate in China and the challenges that the foreigner confronts when they buy real estate in China. It was surprising to hear that no one owns land in China. You can only buy the right to live for seventy years, which in essence is leasing the land from the government. The presenter touch based on the volume of construction and development that is going on in China these days and also informed us that the Chinese real estate market has now begun to experience recession due to growth in inflation and tighter regulations of the banks.
The next stop was a dumpling lunch at the World Financial Centre, the third largest building in the world.
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| The tallest buildings |
After lunch we went to ShangPharma, a Contract Research Organization in the Pharma Village. The presentation at ShangPharma was informative as we got a chance to hear about the work that the pharmaceutical industry is doing in China and how big the pharmaceutical business is in China. On our way to the Pharma Village I was surprised to see a huge presence of almost all multinational pharmaceutical companies.
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| Presentation AT ShangPharma |
The day ended with an impressive acrobatic performance at the Shanghai Acrobatic Show.
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