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Wu is looking to second-tier cities such as Yantai, Wuxi and Changzhou for growth as first-tier cities such as Beijing mature.
FORBES: Wu Yajun & family
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Real estate prices extended their rally in 62 out of 70 Chinese cities last month, with first-tier cities leading the gains, the National Bureau of Statistics (NBS) said Monday.
FORBES: China Housing Bubble Up, Up And Away
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Real estate prices extended their rally in 62 out of 70 Chinese cities last month, with first-tier cities leading the gains, the National Bureau of Statistics (NBS) said on March 18.
FORBES: China Takes Another Stab At Housing Bubble
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All the first-tier cities like Shanghai and Beijing saw their price hikes slow, but they are still higher than before.
FORBES: China Housing Bubble Cools, But Prices Still Higher
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"Local governments are also keener to support e-commerce retailers, which contributes to higher employment and meaningful tax revenue for the city, " said Mr. Shen, adding that the company plans to expand further in first-tier cities such as Beijing, Shanghai and Guangzhou, where it currently has a presence, and into second-tier cities such as Chongqing and Chengdu.
WSJ: Investors Target Logistics Property in China
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We are looking at first- and second-tier cities and maybe will open one to two stores per year.
FORBES: A Chat With Yuwadee Chirathivat
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Prices will decline more in the city's fringe areas but not so much in the centers of first- and second-tier cities, he added.
WSJ: China Developers Expect Property Prices to Fall
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China's tier-one and -two cities got hit first by strict government controls.
WSJ: Heard on the Street: No Springtime for China's Property Sector
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The first is the ongoing rise of luxury spending in Tier 2 and 3 cities.
FORBES: Long-Term Consumer Outlook For China Luxury
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Growth in property transactions in tier-one and major tier-two cities has moved into positive territory for the first time since the summer.
WSJ: Heard on the Street: No Springtime for China's Property Sector
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The final criterion applied to Tier 2 and Tier 3 cities in which housing prices rose significantly in the first six months of 2011.
FORBES: China's Cities Take Steps To Stimulate Home Purchases