Bloomberg reported that the scramble for property caused gridlock on roads leading into the area while local hotels were flooded with guests. Shenzhen is proof the formula works. Its detailed in our report The Future of Urban Development. How has China financed its development? At that time, only 180 million Chinese lived in cities, and there wasn't an urban expanse in the country with more than 10 million people.
China s future cities will focus on sustainability and mobility
It has allowed many people to make a lot of money investing in real estate, and the Kafka Metamorphosis has also turned home buying into a type of brick-and-mortar savings fund. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners. A hitherto anonymous region near Chinas smog-choked capital has been overrun by house buyers after Beijing unveiled historic plans to build a new city there in a bid to slash pollution and congestion. Second, Shenzhen has created the most business-friendly environment in China. Nobody is going to move into a place that lacks public services such as healthcare, schools, functioning shopping centers, places to work, public transportation, and highway and rail links, and local governments are hesitant to produce this infrastructure in areas where there are not yet.