As the Chinese economy slowly recovers from its 8% Shanghai Stock Exchange crash—and devaluation of the yuan—American real estate has become a safe haven for Chinese investors looking for solid assets. According to a report by global accounting firm KPMG, Chinese investors’ purchases in Europe and the US grew 11% to $120B in 2014, including Angbang’s $1.95B purchase of the Waldorf-Astoria. The report also said that outside investments allow for higher and more stable returns.

Furthermore, Chinese insurance companies—which can amass $3.32T in premiums by 2020—have only invested 1% of their assets in overseas real estate since 2012, despite the fact that they can invest as much as 15%. But with the Chinese government creating a plan that allows for citizens to invest 1M yuan of financial assets and businesses in foreign stocks, bonds and real estate investments, investors will have more flexibility. The government doesn’t want the capital to completely flee the country, however, so analysts expect the government will open capital markets gradually to have greater control of currency value. [The Street]