CHINESE EXECS STUDY U.S. REALTY METHODS.Byline: Deborah Adamson Daily News Staff Writer In a demonstration of their country's stride toward capitalism, a group from China has come to the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. to meet with Realtors. Thirty-one Chinese executives joined with officials from the San Fernando Valley Association of Realtors in Van Nuys last week to learn about marketing methods, the legal nuances and the computerization com·put·er·ize tr.v. com·put·er·ized, com·put·er·iz·ing, com·put·er·iz·es 1. To furnish with a computer or computer system. 2. To enter, process, or store (information) in a computer or system of computers. and operation of the U.S. real estate business. ``The main purpose is to make friends in the sector of real estate, building and construction,'' said Yan Wei Yan Wei (born 4 October 1973) is a retired Chinese middle distance runner who specialized in the 1500 metres. Achievements Year Tournament Venue Result Extra 1993 World Championships Stuttgart, Germany 10th 1500 m , director of the Jiangsu Provincial Construction Commission. Secondly, ``we want to understand the development of real estate and get more details about it.'' As for the Realtors, they are learning more about intercultural business relationships that could produce dividends in the future. ``We want to know how they do business, glean ideas from them and make them (ideas) work for us,'' said Bud Mauro, the trade group's president-elect for 1997. The Chinese delegation arrived in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. on Nov. 12 and will tour other U.S. and Canadian cities before leaving Dec. 1. They hail from Jiangsu province, on the China coast. Jiangsu is a region with 71 million people packed within 40,000 square miles. Textile, light industry, machinery, electronics, petrochemicals and building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . are its major industries. Like many other Chinese provinces, Jiangsu has received billions of dollars in foreign investments from the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Europe and Asia. That investment was made possible largely by the loosening of economic policy in 1979. The government allowed capitalism to filter in through private businesses while adhering to a Communist political agenda. ``(The Chinese) were not ignorant of what was happening around them,'' said Jack Lewis, director of the International Business Education and Research program at the University of Southern California The U.S. News & World Report ranked USC 27th among all universities in the United States in its 2008 ranking of "America's Best Colleges", also designating it as one of the "most selective universities" for admitting 8,634 of the almost 34,000 who applied for freshman admission . China had watched the rapid economic growth of other Asian nations - the four original ``tigers'' being Japan, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Taiwan and Singapore. By 1985, Japanese investment was pouring into China, followed by the United States and other Western nations, Lewis said. Other Asian countries, such as Taiwan, started investing in China in 1990. Today, about a quarter of China's enterprises are privately run. Forty percent - mainly the largest industries such as steel and cement - are still state-controlled and the rest are agricultural and industrial collectives. China's economic growth rate is more than triple that of the United States, Lewis said. Its gross domestic product - the total output of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. - is around 10 percent while the United States is tracking between 2 percent and 3 percent. In this environment of rapid expansion, an efficient legal and operational system is crucial. China is seeking guidance to change its old laws. ``If you're going from a controlled economy to a market economy . . . you've got huge laws you've got to reform,'' Lewis said. |
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