Search results
Results From The WOW.Com Content Network
By 2014, Chinese builders have added 100 billion square feet of housing space in China, equating to 74 square feet per person. Construction of urban housing was a major undertaking. The country has shown a major shift in allocating funds and resources to housing their people, building over 5.5 million apartments between the years of 2003 and ...
The Chinese property sector crisis is a current financial crisis sparked by the 2021 default of Evergrande Group. Evergrande, and other Chinese property developers, experienced financial stress in the wake of overbuilding and subsequent new Chinese regulations on these companies' debt limits. The crisis spread beyond Evergrande in 2021 to such ...
In 2015, it was reported that there are more than 3 million people who are homeless in China. [2] Housing in China is highly regulated by the Hukou system. This gives rise to a large number of migrant workers, numbering at 290.77 million in 2019. [3] These migrant workers have rural Hukou, but they move to the cities in order to find better ...
“China’s housing market downturn isn’t just a cyclical correction but also reflects a long-term decline in intrinsic housing demand,” they wrote, noting that 96% of urban households in ...
An official at the Ministry of Housing and Urban-Rural Development said last year that China would add 6.5 million new low-cost rental housing units in 40 major cities in 2021-2025.
People’s Bank of China Deputy Governor Tao Ling told reporters at a briefing Friday that the central bank would provide 300 billion yuan ($42.25 billion) to financial institutions to lend to ...
Under-occupied developments in China are mostly unoccupied property developments in China, and frequently referred to as "ghost cities" or ghost towns. The phenomenon was observed and recorded as early as 2006 by writer Wade Shepard, and subsequently reported by news media over the decades. [1] [2] Although a feature of discourse on the Chinese ...
With the development of new housing with modern facilities in rural China, many tulou residents have moved out of the structures or relocated to larger towns or cities for better jobs. However, former residents can choose to keep their ancestral tulou apartment homes under padlock for occasional use when returning home for family reunions ...