Photo: Greenwich Country Club
China is going to copy Greenwich, CT and build its own version of the wealthy suburb outside of Shanghai in FengXian, according to a report in the Stamford Advocate.Yesterday, 20 officials (hedge fund operators, government officials, and others) from China visited Greenwich and announced their plans at a reception in Stamford.
China plans to build a seven-square-mile zone in the district in an attempt to consolidate hedge funds. But if China actually wants the hedge funds to move their offices there, they have a long way to go. Greenwich is a more desirable place to work outside the city than New Jersey or New York State because it’s gorgeous, is close to New York, and has great tax benefits.
Compare the two suburbs in the pictures we snapped using Google Earth.
China hopes FengXian will be the Greenwich to China's New York City. Shanghai is the country's rising financial capital.
This is downtown Greenwich, the area the Chinese will want to emulate in order to incentivise hedge funds to make the move.
Zooming in, there is an area in FengXian that looks ripe for a Greenwich-style hedge fund development.
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