This may actually be one of the worst times to move to China if you're looking for a fresh start. They've been on a lending binge that's created a massive fixed asset bubble (mainly real estate), and it looks like the correction has recently begun. It's a lot like what happened in the U.S. and Dubai, although on a much larger scale and without the fancy derivatives (at least not yet).
Local governments have actually been forcing developers to borrow more money and buy land from them because they depend on those sales to meet their financial obligations. Real estate agents are offering luxury cars and bars of gold when you purchase an apartment, not to mention buy one get one free deals (the gold and luxury cars allow them to mask declines in the prices of apartments because list prices are still high).
I would stay far, far away... at least for the next 6-12 months so we can see how hard the landing will be. A lot of wealth is potentially going up in smoke and that could wreak havoc on their domestic demand, which is what they were planning to rely on in order to continue their rapid GDP growth (which we now know has been largely artificial).
Local governments have actually been forcing developers to borrow more money and buy land from them because they depend on those sales to meet their financial obligations. Real estate agents are offering luxury cars and bars of gold when you purchase an apartment, not to mention buy one get one free deals (the gold and luxury cars allow them to mask declines in the prices of apartments because list prices are still high).
I would stay far, far away... at least for the next 6-12 months so we can see how hard the landing will be. A lot of wealth is potentially going up in smoke and that could wreak havoc on their domestic demand, which is what they were planning to rely on in order to continue their rapid GDP growth (which we now know has been largely artificial).