Flats in Beijing (pictured) or Shanghai costs on average 4.32 million yuan (US$640,000), compared with just 1.51 million yuan in smaller cities, according to a report by Ke.com. Photo: Reuters

China’s millennials search for ways to pool savings as property in Beijing, Shanghai soars even further out of reach

  • Less than 20 per cent of millennials have been able to purchase a home without having to rely on financial backing from their parents, survey shows
Topic |   China property

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Flats in Beijing (pictured) or Shanghai costs on average 4.32 million yuan (US$640,000), compared with just 1.51 million yuan in smaller cities, according to a report by Ke.com. Photo: Reuters
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Zheng Yangpeng

Zheng Yangpeng

Zheng Yangpeng is a business reporter at the Post, covering China property, banking and finance. He previously worked for China Daily, joining the Post in 2016. He holds a Bachelor's Degree in Journalism and Communication from Peking University, and a Master's Degree in Global Business Journalism from Tsinghua University.