City courting new Chinese tenants

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Officials from the city’s Economic Development Corp. met with the leaders of several Chinese firms yesterday for a Midtown Manhattan real estate office tour that included One Bryant Park and the Empire State Building, part of a larger, recent effort to attract foreign tenants to New York. According to the Wall Street Journal, the city is focusing on companies it sees as having big potential for growth. It has already courted a group of technology start-ups from London, and has plans to host businesses from Singapore and India in the coming months. Gregory Kraut of CB Richard Ellis hosted the tour, and said that in particular, Chinese firms looking to go public have their eyes on New York. “It’s like when Japan came here 20 years ago,” he said. Among the Chinese businesses that have their sights set on the Big Apple: Yangtze River Delta Construction Investment Group, which may take space in the Empire State Building, and Golbelink China Logistics. Apparel company Li & Wang also recently leased space in the Empire State Building, while Chinese sovereign wealth fund China Investment Corp. expanded its offices at 350 Park Avenue last year. [WSJ]

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