To what extent is Evergrande (恒大) responsible for the collapse of China’s housing market? Heavy punishment of the market leader On August 20, China sentenced the founder of the country’s biggest property developer Hui Ka-yan to life imprisonment, with political rights stripped for life. All personal assets were confiscated. Hui pleaded guilty to large-scale … [Read more...]
Seeing China from Guangzhou
Last month we took a family trip to Shenzhen and Guangzhou. It was the latter that I would like to visit again. I have been to Guangzhou for business a few times. But the last time was twenty years ago. The company I worked for won a contract with Guangzhou Baiyun International Airport. I flied there after the new airport opened in 2004. Two decades later, Guangzhou is very … [Read more...]
Overseas retirement – what you don’t know
Retirement in a foreign country is the dream of many. It is expensive to live in Singapore. We have high inflation, high housing cost and high cost of living. In contrast, our nearby countries can offer the same quality or even better retirement life at a fraction of Singapore’s costs. As more of my friends are approaching the age of retirement, discussions come up on an … [Read more...]
Reporting from Shenzhen: How China stimulates the property market
I was in Hong Kong last week. To find out why Hong Kong people flocked to Shenzhen on weekends, I decided to cross the border for a personal experience. Singapore’s infamous train fault There is a Chinese saying that “Good things aren’t heard outside the house. Bad things spread a thousand miles. During this trip, whoever I met, the first thing they mentioned was … [Read more...]
Who is to blame for China’s property crisis?
China’s property crisis has been lingering for over two years. The latest development was Hui Ka Yan, the founder and chairman of China’s largest property developer the Evergrande Group, was arrested and placed under police surveillance at an undisclosed location. To what extent are developers responsible for China’s property crisis? Rich Chinese flocking to Singapore … [Read more...]