The average household generates an additional return of 3.7% per year from its localholdings relative to its non-local holdings, suggesting local investors are able to exploit local knowledge.
It is not really eight months old it just looks that way because Mr Li bought a small local firm called Tricom Holdings last May and used it to list the Internet ventures of his existing property conglomerate, the Pacific Century Group, which until then was best-known for winning a sweetheart deal from Hong Kong's government to build an industrial park.