Chinese Investors spending up big in NZ

[Bluekiwi]

Thats the problem when you do presentations, people can cut and paste your photo anywhere.
I think I have someone in a chicken suit actually

Actually my memory failed me, a quick google and I find out it was actually a Dancing Clown

[Bluekiwi]

Chinese laundering their money in NZ? Who would have thought? Certainly not the government!

China's most wanted: Fugitives flee to NZ


Up to 20 of China's most wanted economic fugitives are believed to have come to New Zealand.
China's Interpol office has released a list of the country's top 100 fugitives wanted on suspicion of corruption, the majority of whom were believed to have fled to the US and Canada. New Zealand was, however, the third most popular destination with between 11 to 20 believed to have fled here since 2001.


Those on the list ranged from bank managers to local government economic development officials, state-run company staffers and even the head of a driving school.


Bribery, embezzlement and fraud were the most common charges.
Yan Sun, who has several aliases including Bill Liu, is on the list of people who have come to New Zealand.

Link

20 people bringing billions of dollars to NZ, sounds better than struggling away on a dairy farm to export and make an honest export dollar.

As long as they arent as annoying as Kim Dot Com.

Have they got rid of him yet.

[chrisgoh]

China says using young, educated anti-graft officials as 'fox hunters'

"SHANGHAI (REUTERS) - China's team charged with hunting down officials suspected of corruption who have fled overseas is aged 30 on average, speaks foreign languages and is well educated, a Chinese official said, giving rare details of a secretive operation.

The government launched Operation Fox Hunt last year to go after suspects who have left China to try and seek refuge abroad, often taking large sums with them, though little information about the project has been made public."

This is funny..."The Sydney Morning Herald reported this week that Chinese police had entered Australia undercover to try to coax a fraud suspect to return to China to face charges, and quoted a government representative as saying Canberra had protested to Beijing."

LINK

[speights boy]

PM says tax and transactions data from non-resident property buyers may be shared with Chinese authorities on 'Operation Foxhunt' for corrupt officials overseas

http://www.interest.co.nz/property/75547/pm-says-tax-and-transactions-data-non-resident-property-buyers-may-be-shared-chinese

[speights boy]

Govt property plans will attract Chinese investors

An adviser to Chinese property players in Auckland believes many developers and investors in her home country will be interested to hear of moves to free up Crown land in the city.

http://www.stuff.co.nz/business/industries/68754328/govt-property-plans-will-attract-chinese-investors

[Perry]

Govt Property Plans Will Attract Chinese Investors
21 May 21 2015

An adviser to Chinese property players in Auckland believes many
developers and investors in her home country will be interested to
hear of moves to free up Crown land in the city. Pauline Gao plans to
go back to China in early June and would be talking to a commercial
property group of about 500 members.

She said they and developers in other countries would be interested to
hear that the Government was looking at up to 500ha of surplus Crown
land for potential housing, and setting up a $52.2 million fund to
partner with private developers. "That's why they want to see me and
see if I can find some deals with the Government. They are pretty big
investors. "I'm sure the amount of overseas investment, not only from
China but other countries as well, will increase.

[RHarris]

Yes these homes will be just be another government con job for a few people to make more money.

[Maccachic]

Apparently loads of Weathy Chinese buying in Tauranga currently - esp after commercial/industrial buildings.

They are loyal to one company at a time and majority are associated with the Chinese church here. According to my commercial RE contact. He just did a private sale of his own home to a wealthy Chinese business man and his family and Bethlehem College is the School of choice for most of them. They have loads of wealthy contacts back home via Businesses.

[Perry]

More Funding For Tax Chase In Budget 2015
Have a look at this post and its quoted item.
Property or land or housing? Or all of them?

[chrisgoh]

Chinese invest all over the world, not only in NZ. Used to be Japanese many years ago.

It may not be a bad thing. Sometime, we need them to shake up the industry and stimulate the economy. As long as we have strict governance, rule of law and sound financial system, everyone will benefit.

[Perry]

As long as we have strict governance, rule of law and
sound financial system, everyone will benefit.

Do you think we have that, at the moment?

When pondering your response, please confirm that
reciprocal arrangements (NZrs can but land/property
in China) apply. Plus, if such reciprocal arrangements
do not apply, please tell us why should the one-way
system be given to Chinese by NZ? (Or to any other
nation that does not reciprocate, for that matter.)

[chrisgoh]

Well, direct reciprocal arrangements are ideal but difficult to apply due to different systems, practises and cultures. However, reciprocity could apply in different forms, such as access to markets, trade, finance, skill transfer and even ownership of properties via companies/partnerships. In the end, both parties must benefit but may not be in the same manner.

[Perry]

When pondering your response, please confirm that
reciprocal arrangements (NZrs can but land/property
in China) apply. Plus, if such reciprocal arrangements
do not apply, please tell us why should the one-way
system be given to Chinese by NZ? (Or to any other
nation that does not reciprocate, for that matter.)

Well, direct reciprocal arrangements are ideal but difficult to apply due to different systems, practises and cultures. However, reciprocity could apply in different forms, such as access to markets, trade, finance, skill transfer and even ownership of properties via companies/partnerships. In the end, both parties must benefit but may not be in the same manner.

Can't be 100% sure, but that looks like code speak
for: No! NZrs cannot by land/property in China.

[chrisgoh]

Can't be 100% sure, but that looks like code speak
for: No! NZrs cannot by land/property in China.

NZrs and all foreigners can puchase property in China for self-use. However, they must fulfil one of the followings:

1. Branches or representative offices established in China by an overseas entity;

2. Foreign individuals who have worked or studied in China for more than one year; and

3. Hong Kong, Macau, and Taiwan residents and overseas Chinese

(Source: China Briefing)

[speights boy]

Drug boss spent $15m at casino

One of New Zealand's biggest convicted drug smugglers spent $15 million at SkyCity casino - while receiving the unemployment benefit.

A 2007 report by the Department of Internal Affairs revealed "a significant amount of evidence" that predominantly Asian groups "were frequenting New Zealand casinos for the purposes of criminal networking, money laundering and social gambling using illegitimate funds".

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11453261