At the National People’s Congress, the Chinese government did not directly spell out its intent to abandon the Hong Kong housing system, but the message was clear that it will not allow what happened in Hong Kong to be repeated in its cities. Photo: EPA-EFE
At the National People’s Congress, the Chinese government did not directly spell out its intent to abandon the Hong Kong housing system, but the message was clear that it will not allow what happened in Hong Kong to be repeated in its cities. Photo: EPA-EFE
Zhou Xin
Opinion

Opinion

Zhou Xin

China learns lesson from Hong Kong’s housing policy, with Beijing keen to avoid same damage to society

  • Land sales have become a key source of revenue for local governments in China who are in need of cash for development
  • Property has also become a key wealth asset for Chinese households, but it has also caused damage to society – issues perceived to have formed the basis for the divisions and tensions in Hong Kong

At the National People’s Congress, the Chinese government did not directly spell out its intent to abandon the Hong Kong housing system, but the message was clear that it will not allow what happened in Hong Kong to be repeated in its cities. Photo: EPA-EFE
At the National People’s Congress, the Chinese government did not directly spell out its intent to abandon the Hong Kong housing system, but the message was clear that it will not allow what happened in Hong Kong to be repeated in its cities. Photo: EPA-EFE
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