China plans to build a copy of Greenwich, Conn.,outside of Shanghai, The Stamford Advocate reported last week.
Greenwich was ranked third in the world for number of billion dollar hedge fund firms in 2007, according to the HedgeFund Intelligence, finishing behind only New York City and London with 20 hedge funds in the billion dollar range before the financial crisis. Greenwich is currently home to 38% of Connecticuts 265-plus hedge fund firms, according to Hedgefundjoblist.com.
Twenty Chinese officials announced their plans for the replication, a 7-square-mile zone that will attempt to consolidate hedge funds, at a reception in Stamford, Conn., on Tuesday after visiting the wealthy Connecticut suburb.
(Stamford Advocate)