Xintiandi, originally a haven for expatriates, is now Shanghai's number one tourist attraction for Chinese visitors, says Vincent Lo, chairman of Shui On.

ECONOMIST: China

"We see (overall) market transactions picking up, as the government is making it easier for first-time home buyers, " said Vincent Lo, chairman of Shanghai-based developer Shui On Land Ltd.

WSJ: China Steps Up Support for Parts of Housing Market

His more prominent supporters include Hang Lung Properties Chairman Ronnie Chan and Shui On Land Chairman Vincent Lo, ranked 14 and 25 on the Hong Kong Rich List, respectively.

FORBES: Hong Kong's Tycoons Back The Wrong Horse?