Chinese Mogul Dai Zhikang Says He Is Leaving Real Estate for Art

According to a lengthy story in the South China Morning Post, Chinese real estate impresario Dai Zhikang had made the “bold” decision to get out of property investment and look to investing in the arts. The founder and chairman of Shangahi’s Zendai Group compared the recent property market rise to a “dead cat bounce,” according to the article, saying he wants to rebuild Zendai “top to bottom.” In order to do this, “he singles out culture, financial services and investment among a clutch of sectors including the internet, as becoming the new driving forces of the mainland economy.”