(April 30): China’s new generation of companies, led by those in the technology sector, are driving much of the growth in the world’s second-largest economy, according to investors at the Milken Institute Global Conference. They have instead turned to the likes of Japanese tech billionaire Masayoshi Son’s SoftBank Corp. and China’s IDG Capital for seed funding. China is expected to dwarf the U.S. in mobile payments, according to data from Deloitte shown at the conference. Changing attitudes and lifestyle of China’s younger population is also opening new avenues for landlords to develop different real estate offerings, said Goodwin Gaw, managing principal at Gaw Capital Partners. Gaw said his real estate investment firm has been focused on the concept of co-living, a practice in the U.S. where students move from dormitory living to similar housing with shared spaces and a sense of community.

Source: The Edge Markets April 29, 2019 19:18 UTC