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Strategies & Market Trends : Asia Forum
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To: Ramsey Su who wrote (9052)8/11/1999 5:01:00 PM
From: RealMuLan   of 9980
 
<<I remember was I was doing some business in GuangZhou area about 10 years ago, I was shocked to find the average individual savings account in the city was over US$3000. >>

If you go there now, I bet a lot of people have a saving account of $30,000. I have four sisters and one brother in Beijing, and all of them bought their own apartment (2-3 bedroom) using cash, which cost bet. $8,000 to $10,000 US dollars. And they are among the less fortunate in the last 10 years. I am sure those people who work in a joint-venture company will be much richer. A lot of Chinese who are studying and working in Western countries, were considered very stingy and frugal when they went back to China for visit.
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