Word: beijingers
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Anyone trying to learn how to dig up ancient artifacts by watching the Tomb Raider movies would find little practical help from Angelina Jolie traipsing around Cambodia's temples. If you're an online-literature buff in China, you might have better luck. Last spring, an unemployed 45-year-old...
A soft-spoken 34-year-old, Hou studied Chinese literature while at university in Beijing and worked as an editor at Sina.com, a major Chinese Web portal, for seven years before starting Shanda in 2005. He describes the company - in which budding writers self-publish their work without having to...
If you think this is the latest, depressing tidbit from the historic real estate bust in the United States, think again. The other former global growth engine - China - which saw its own real estate bubble expand in the last five years, has now got its own property market problems - and...
The long-running boom in the construction of new apartments and houses across urban China ended abruptly last year and is now unwinding. Deflation is evident in Beijing and Shanghai in particular, where real estate developers and brokers report prices will likely be down 15% to 20% this year. Prices...
But there is still pain - particularly among developers, and the big banks that financed them - because of just how overbuilt urban China has become. Ren Zhiqiang, the Chairman of the Beijing Huayuan Group, a large developer, estimates that it may take to two to three years to work off the...