Tuesday, July 18, 2017

VANCOUVER | A Seismic Shift

Video by Dr. Melissa Carr

China Minsheng's Partial Ownership in Grouse Mountain Marks a Seismic Shift for Vancouver


Last week the Globe and Mail broke the news that the iconic Grouse Mountain in Vancouver has been sold to an overseas investor.  They pointed out in an article on the weekend that its what foreign investors do in Canada that matters*.  The property and its operations has been on the market since last year.   The transaction closed yesterday at B.C. Lands Title Office.  

That China Minsheng wants to invest in Canada is a vote of confidence in the country.  China Minsheng Investment Group (CMIG), the country's largest privately owned investment manager.

China Minsheng and China Poly** both have North American roots well established in Vancouver.

Timing Is Everything

The closing of this significant transaction is unrelated to the sensitive geo-political events within China of the last few days.

For Vancouver, Canada the significance of these three events cumulatively mark the 'growing up' of the city as an investment capital from SME and entrepreneurs and training ground for princelings, to a serious place for Asian Institutional Investors to park their people and their money for generations,   From previously a 'recreation home', many will move back and stay for the long term.   Vancouver has long been an important Asia Pacific City maintained primarily through the bamboo network of human capital more than financial capital.

Here is the press on this transaction as at time of this post.  

By Andrea Eng
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* If you are not open the linked article because no subscription, suggest you download their app and will be able to access the article.
** My recent visit to China Poly >  http://hellotaitai-shop.blogspot.ca/2017/07/chinese-contemporary-art.html