It estimated parking fees collected in China’s first- and second-tier cities will grow by an average 13 per cent during 2016-2021, to US$118 billion Warburg Pincus, one of the largest investors in China’s commercial and industrial real estate, has found its next pot of gold amid the country’s property market, as residential assets succumb to a year-long government campaign to cool prices. The New York-based private equity firm said it is investing 1.5 billion yuan (US$227 million) into Sunsea Parking together with Warburg-backed Red Star Macalline, the largest furniture retail chain in China.