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China's real estate meltdown is battering middle class wealth

Stock investments: down 30 percent. Salary package: down 30 percent. Investment property: down 20 percent. As Thomas Zhou reflects on 2023, his household finances are front of mind.  “It’s just heart-breaking,” the 40-year-old financial worker from Shanghai said. “The only thing that still keeps me going is the thought of…
Eric Zhu Thomas Zhou Peter Bao Lily Liu Dani Wang Bain Co

China's Real Estate Meltdown Is Battering Middle Class Wealth

(Bloomberg) -- Stock investments: down 30%. Salary package: down 30%. Investment property: down 20%. As Thomas Zhou reflects on 2023, his household finances are front of mind. Most Read from BloombergUS Frackers Return to Haunt OPEC’s Pricing StrategyCanada to Announce 2035 All-EV Sales Mandate, Reports SayDimon’s Heir at JPMorgan Still Hazy as ‘Five More Years’ Tick ByNetanyahu, Under Pressure Over Hostage Deaths, Vows to Press On‘Underwater’ Car Loans ...
Lily Liu Peter Bao Bloomberg Businessweek Dani Wang Eric Zhu Thomas Zhou
Source: yahoo.com

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New World China unit reports $1.37bn in home sales

New World Development, the conglomerate owned by one of Hong Kong’s wealthiest families, sold more than RMB 10 billion ($1.37 billion) worth of residential projects in mainland China in the first eight months of the year, the company said in a statement on Monday, reports the South China Morning Post. The total sales reported in…
Yangtze River China General Hong Kong World Development South China Morning Post New World Development

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