His son is also very brilliant.

not as fun as your mom

Remember British tried to start mega project like the new airport before handing over Hong Kong? China had to curb that too

Brits sacked their summer palace and bled HK dry.. Congrats to HK, good to finally be free from your former colonial master.

@kristyhu1099 The PRC had this fear, quite unjustified, and obstructed the new airport until poor old Kai Tak was bursting at the seams. Eventually, through many negotiations, Chek Lap Kok was built and completed, late, one year after the handover, and has been a huge success and since expanded. The third runway is nearly completed. So the British were right.

@user-tz1pr1ps2o This is not a rational or sensible reply. The French sacked the Summer Palace first. They didn't bleed Hong Kong dry, as was evident in the Hong Kong of 1997. They helped create Hong Kong since 1841.

In China in 2008 around 70% of the people in their real estate markets were buying their 1st homes in their cities By 2018 around 70% of the people in their real estate markets were buying their 2nd and 3rd homes in their cities That’s why you are hearing about problems with their property developers these days. Because back in 2010? Their Central Government started cutting of money flow to these developers. Thus why you heard about Shadow Banks and Underground Economy back then, that their Government had to come into to shutdown or regulate. Even then, It took them almost 14 years to get their overheated real estate under control Heck they were about to introduce a nation wide property tax, but then trump started the trade war in 2018 Why is their Central Government doing this? Because there are still a few hundred million poorer rural folk they still expect to move to the cities to join their more well off urban city folk countrymen. Problem is these property developers were building higher end homes, and not building the affordable homes these rural migrants will need In China Owning a home in the city you migrate to? Affects your employment, health, education and even marriage prospects don’t have a house you don’t get married Thus the common prosperity push and the crackdown on the overt displays of wealth in China Although there is now attempts to shore up real estate Their Government probably figured out you disenfranchise the people at the bottom of your society they are the ones most likely to act out in protest The solution is simple allow the folks who are owed a home to take one by these Property Developers And allow the few hundred billion less well off rural folks to buy this real estate at a discount

@@DW-op7ly Let's hope when the less well off move into those properties, it is still able to make it to a livable standard. Many are just a fake shell.

@@rajahua6268 most Chinese homes are sold as a shell If you are going to talk about China then learn a little about China This has been the case for a long time now 👇 Do China's ghost cities offer a solution to Europe's migrant crisis? Even though there are between 20 and 45 million unoccupied homes across China, which account for roughly 600 million square meters of uninhabited floor space - enough to completely cover Madrid - these places are not the urban wastelands they are often posited to be. While many of China's new cities and urban districts are deficient in people they are not deficient in owners. Nearly every apartment that goes on the market in China is quickly purchased, often at exorbitant prices that commonly range into the hundreds of thousands of dollars. Far from being unwanted infrastructure that could seamlessly be doled out to refugees, those arrays of vacant high-rises are actually the proud possessions of people who paid a lot of money for them. A huge portion of the homes that are purchased in China function very much like stocks or a trade-able commodity. As an incredible number of new apartments are sold as unfinished concrete cavities without any interior fit out or even windows, they are in no way immediately livable. Strange as it may seem, they are very actively bought and sold in this bare-bones form. In fact, investors often prefer them that way. In many ways they are purely economic entities, quantifiable placeholders of value that are traded on the open market akin to precious metals. Just as one doesn't need to mold a piece of gold into something usable, like a piece of jewelry, for it to have value and an economic function, an apartment in China doesn't need to have people living in it for it to be economically viable. "Empty units leave flexibility for quick sales in a changing market or need to cash in quickly," said Barry Wilson, the founding director of Barry Wilson Project Initiatives, a Hong Kong-based urban design firm. Another reason for the sheer number of unused apartments in China is the fact that there is often little financial incentive for owners to do anything with them after purchase. There is no yearly property tax in China, so vacant properties are not a financial drain on their owners. While the potential returns that could be had from renting them out (1 percent or so) is often not worth the hassle - especially because it costs tens of thousands of dollars to construct the interiors of new apartments in preparation for tenants. This is combined with the fact that Chinese homeowners, especially investors who have multiple properties, are remarkably un-leveraged. According to Mark Tanner, over 80 percent of homes in China are owned outright. This means that most homeowners, especially the big investors with multiple properties, generally don't have any mortgages to pay off or any other leans, so there isn't as much financial pressure to make a profit from these homes in the short term. Reuters

The Interview Might be two months ago. Ronnie Chan related to and worried about Hopewell site ? Is Gordon Wu family in control of Hopewell ? Sounds like your comment was NOT based on Facts, instead you --- @beowulf1312 had hidden agenda in writing your comment. .

Sometimes bubbles are great. Economy of China now really needs speculations for growth. The consumer confidences are so low right now, people need to feel the money is easy to make before they are willing to spend.

Which part of it is untrue

U forgot the Rejection of even 1% of development of country park from pro democracy politicians? Israel Labelled their army asthenia most peaceful in the world too, so Labelling themselves pro-democracy while supporting rioters and openly undermine the rule of law like supporting the 5 demands including demanding all rioters arrested for rioting must be released unconditionally. How can anyone be qualified to fight for democracy when they support the notion that freedom fighters must be above the law? Everyone is equal before the law, which is the foundation of Liberal democracy, and you want to destroy that and claim you are democratic?

its factual..."yellow-ribbon" people just have an automatic disdain for anything mainland China. They think of themselves as being better than Mainland Chinese people, but in fact they rested on their laurels during the 2000's and let Mainland China surpass them. This yellow ribbon thinking is a way of making themselves feel important and different..but at the end of the day, western people look at HK chinese, Mainland Chinese, Taiwan Chinese, Filipinos, Thai, Viet, Korean, Japanese all the same. Just look at the asian hate crimes in the US...most are against non-chinese asian ethinicties despite the attackers saying they hate chinese people. If asians are smart, stop the Western kow-towing and unite together.