Assets speculators from Wenzhou who provided to the sky-high real estate values in the country's leading city are moving their cash into debt-laden Dubai. A group of 12 Wenzhou entrepreneurs just came back from a four-day visit in Dubai previous Friday to survey the diminishing real estate market.

"Since the depression on real estate in Dubai, I've led three groups of depositors to Dubai to examine properties," said Chen Zhiyuan, the president of Wenzhou Chamber of Commerce in the United Arab Emirates. Chen, who led the group of investors from Wenzhou, said they haven't made any benefit plans because the acquiring time is not grown-up yet.

"We'll still remain and observe what the local government will do to push the declining property market," Chen said. Wenzhou, China's personal capital powerhouse in the southern region of Zhejiang, is among the richest areas in the country and the origin of self-made billionaires who are manufacturing clothes, shoes, and other small supplies like lighters.

Chen said he arrive to Dubai with nothing a decade ago. "As a Chinese businessman, I have the benefit of receiving products from factories directly in a shorter stage and with a minor price. I saw the huge possible from the popular Chinese-made goods." Chen released the first China town hall in 2000 in Dubai, where hundreds of service shops were built, run by Chinese merchants mostly from Wenzhou. Chen started two smaller commodity malls to join Wenzhou businessmen because he considers that unity is always a tradition for Wenzhou merchants.