Breaking Ground: Chinese Investment in U.S. Real Estate (San Francisco)

Ken Wilcox, Co-Chairman of the ASNC Advisory Board, gave the opening remarks. (Asia Society)

Laura Jenkins, ASNC Development Officer, registers ASNC members. (Asia Society)

Darlene Chiu Bryant, ChinaSF's Executive Director, engages in a conversation with members of the public prior to the event. (Asia Society)

Winston Gilcrease, Program Manager at the China-US Energy Efficiency Alliance and Stanley Kwong, Professor at the University of San Francisco, share a chuckle. (Asia Society)

Before the panel discussion, the speakers pose for a group photo. (Asia Society)

Arthur Margon, Partner at Rosen Consulting Group, is one of the authors of the "Breaking Ground: Chinese Investment in U.S. Real Estate" report. He started the event and gave a report overview. (Asia Society)

Darlene Chiu Bryant, Executive Director of ChinaSF, moderated the panel discussion. (Asia Society)

Sean Randolph, Senior Director of the Bay Area Council Economic Institute, adds to another panelist's remarks. (Asia Society)

Li Chen, CFO of China Oceanwide Holdings Limited, responds to a question. (Asia Society)

Alan Pomerantz, Senior Counsel at Pillsbury Winthrop Shaw Pittman LLP, has a wealth of real estate experience. (Asia Society)

Zhengyu Huang, Chairman of ImmCapital, answers a question from the audience. (Asia Society)

After the talk, Arthur Margon speaks with Vice Consul Xiang Feng of the Consulate General of China in San Francisco. (Asia Society)

Attendees enjoy some post-event refreshments at the reception. (Asia Society)

Eve Cary, ASNC Director of Programs, learns about an audience member's background. (Asia Society)

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On May 24, 2016, Asia Society Northern California convened a high-level panel to launch our new report, “Breaking Ground: Chinese Investment in U.S. Real Estate.” The sold-out event featured speakers from wide-ranging backgrounds: Arthur Margon, a partner at Rosen Consulting Group, one of the report authors; Darlene Chiu Bryant, Executive Director of ChinaSF; Zhengyu Huang, Chairman and Founder, ImmCapital; Li Chen, Chief Financial Officer, Oceanwide Center LLC, a Chinese developer; Alan Pomerantz, Senior Counsel, Pillsbury LLP; and Sean Randolph, Senior Director, Bay Area Council Economic Institute.

Mr. Margon began the program with a discussion of the highlights of the report. He noted that Chinese nationals are now the biggest foreign buyers of American homes, purchasing homes valued at $93 billion in the past five years, including $28.6 billion in 2015 alone. Commercial property purchases have surged as well, to $8.5 billion last year, a 15-fold increase from 2010. And, at nearly $208 billion, China is the biggest foreign holder of U.S.-government-backed real estate bonds.

His presentation was followed by a panel discussion, which covered the differences between Chinese investment now and Japanese investment in the 1980s; the role of the EB-5 program in investment; and what the United States can do to promote Chinese investment.
Zhengyu Huang commented that Chinese investment is characterized by “long-term strategic investing coupled with momentum driven investment” and Alan Pomerantz noted that one barrier to entry is the complex web of U.S. laws. Mr. Huang predicted that despite some challenges for Chinese investors, they see the United States as a long-term destination, and in 2-3 years, will be much more savvy and well-educated investors.

For more information on Breaking Ground: Chinese Investment in U.S. Real Estate, please visit AsiaSociety.org/ChinaRealEstate.