Chinese government officials see no real estate market bubbles in China

NEW YORK, June 28, 2011 /PRNewswire/ -- New York Global Group ("NYGG", website: www.nyggroup.com), a leading China focused private equity institutional investment and corporate advisory firm based in New York and Beijing announced today that NYGG hosted a Chinese government delegation to New York City on June 21, 2011, in support of Yale University's educational program on sustainable urban development. The Chinese government delegation included mayors from more than 25 Chinese cities as well as officials from several Chinese national government agencies. Chinese mayors are appointed officials who have broad administrative authorities over their cities.  

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The Chinese delegation was led by the honorable Dr. Qiu Baoxing,  Deputy Minister of Housing and Urban-Rural Development of China, the Chinese government ministry that dictates China's national policies on urban planning and real estate development across the country of China. Senior officials from the Chinese Consulate in New York, professors and scholars from Yale University and China's Tsinghua University led by Dr. Alan Brewster, Associate Dean of the Yale School of Forestry and Environmental Studies, as well as several institutional investors also participated in the event hosted by New York Global Group.

After a warm welcome from Mr. Benjamin Wey, a bilingual expert on China and the president of New York Global Group, the keynote presentation was delivered by Professor Mosette Broderick, a guest of New York Global Group and the Director of Urban Design and Architecture Studies and Historical and Sustainable Architecture at New York University.  Professor Broderick highlighted the colorful history of the development of New York City. The question and answer period and the general discussion focused on China's huge housing development needs, real estate market development and investor sentiment towards China. Dr. Qiu, the Deputy Minister of China, who has a BS degree in Physics and two PhDs in Architecture and Urban Planning and in Economics, said that China is currently constructing over 1 billion square meters of new housing each year and he believes China's economic growth and developments in real estate are manageable.

The Chinese mayors and professors from Yale University expressed their appreciation towards New York Global Group for NYGG's long standing history of supporting educational programs and China's urban and economic development. For more than ten years, New York Global Group has supported educational programs and economic development in China.

"For the past decade, New York Global Group has been supporting bilateral trade and economic relations between United States and China. This visit was a great educational success for these local Chinese mayors and leaders. New York Global Group continues to see significant growth opportunities in many sectors across China. We look forward to seeing many of these Chinese mayors again in China," said James N. Baxter, Esq. General Counsel and Chief Operating Officer of New York Global Group.

About New York Global Group:

New York Global Group ("NYGG") is a leading middle market focused private equity and corporate advisory firm specialized in China related projects. For more than a decade since being founded by Benjamin Wey, NYGG has executed more than 200 China related transactions in the areas of corporate finance, direct investments, market entry assistance and due diligence assignments. Through two independently operated companies based in Beijing China and on Wall Street in New York City, NYGG works with a team of bilingual financial experts. NYGG serves growth oriented private sector businesses as well as public companies listed on stock exchanges in Hong Kong, China and other international markets. NYGG staff speaks a combination of 7 different languages across two continents.  We are proud of our long standing record of acting as a bridge to China, facilitating bilateral economic activities and communications. At New York Global Group, we are "Global Reach, the China Experts."

Website: www.nyggroup.com

SOURCE New York Global Group

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