The Chinese economy is growing like topsy, but real estate interests looking for investment capital had better search elsewhere, according to a panel of China "watchers" at MIPIM.With the need to urbanize upwards of 500 million people over the next 10 years, said Guy Hollis, head of Jones Lang LaSalle's International Property Group-Asia, "why would Chinese investors look out?" Florian Ranft, who runs the Shanghai office of the Munich-based law firm of Taylor Wessing, said "very little" private capital has found its way out of the country since a ban on overseas investments was lifted at the end of last year. He also pointed out that Chinese businesses and pension funds find it difficult to put their money abroad because of the tedious approval process. But both observers agreed it's only a matter of time before a "great wall" of Chinese investment capital finds its way to other countries. "It's not if, but when," said Hollis. "It will start with a trickle, but it will build up quickly. And the bigger question than if is what form it will take."

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