China’s mass urbanisation projects mean the end for Guangzhou’s 1,000 year-old urban villages

A doomsday atmosphere has developed in the village of Chentian on the outskirts of Guangzhou, the capital of China’s Guangdong province. Red banners urge local residents to leave the village that has stood for over 800 years, small shops are clearing out their inventories, and people who had lived there for decades are nervously debating their uncertain futures.The whole mini world of Chentian – made up of hundreds of low-rise concrete buildings and thousands of small shops and restaurants… Source link

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China has the largest number of property billionaires, as decades of economic growth fuelled urbanisation and demand for a roof over every head

China has the world’s largest community of property tycoons, as a generation of developers grew wealthy over three decades of rapid economic growth, which fuelled the aspiration to have a roof over every head.The second-largest economy had 108 dollar-denominated billionaires, out of 239 around the world, according to the 2019 Hurun Global Real Estate Rich List. The United States, with an economy that’s one and half times larger, has 26 real estate billionaires, while the UK has 17, and Hong… Source link

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