采访/陈汉 编辑/宋风 后制/李智远
HK Media: Housing Prices Trigger Downfall of the
Chinese Communist Party
National Bureau of Statistics of China published a report of
housing prices of China’s 70 major cities in October.
Except for Wenzhou City that had decreasing housing prices
the other 69 cities housing prices still increased.
Tier cities like Beijing, Shanghai, Guangzhou,
and Shenzhen had housing prices rising by 20%.
Hong Kong media says Chinese real estate not only drags
down the Chinese economy, but also triggers the collapse of
the Chinese Communist Party (CCP).
Data of National Bureau of Statistics of China shows that
housing prices of 70 major Chinese cities rose by 20%
compared to the same time last year.
Prices of new houses in Beijing, Shanghai, Guangzhou,
and Shenzhen rose by 21.2%, 21.4%, 20.7%, and 20.6%.
But, only prices of new houses in Wenzhou fell by 1.5%,
and price of second hand houses in Wenzhou fell by 5.3%.
In fact, Wenzhou housing prices have fallen since early
2012. Many house prices fell below the loans value.
The past real estate speculators have abandoned
China Banking Regulatory Commission branch in Wenzhou
has documents showing that 580 house owners “abandoned"
their houses by Oct. 24, which left the non-performing house
mortgage balance at 2.374 billion RMB.
An Informed source says Wenzhou has more than 720 billion
RMB loans, with nearly half of it as housing mortgages.
Xie Tian, professor of School of Business at South Carolina
University, US: “The real estate loans and construction loans
lent out with high prices before won’t be paid back. They’ll
eventually become bad debts."
Xie Tian indicates that under China’s political system,
the Chinese regime will print a large amount of money to
solve the bad debts made by real estate, which will cause
inflation and become a burden of the people.
Li Daogui, mainland Chinese economist, former Monetary
Policy Committee member of Central Bank,and economics
professor at Tsinghua University,recently published an article
“Real Estate To Have Huge Change."
The story says the rising of housing prices is the final
craziness. There are 11 signals for huge change in real
estate, which will happen in at most a year.
Li Daokui says conservatively estimated China has more
than 50 million vacant houses.
There are also 4.29 billion square meters houses being built
and 4 billion square meters of hoarding land by developers.
There is also some reserved land by local government.
Chinese authority declares that it will take at least 20 years
for more than 80% of Chinese who own houses to digest.
Li Daokui says housing surplus is very serious in China.
China’s real estate bubble is scary!
Local governments still dream to pay off
the 20 trillion debt by selling land!
Ren Zhongdao, mainland Chinese financial analyst:“The
dangerous impact of the collapse of real estate is not only
on this industry, but to the whole economy of China.
It impacts many industries including local debts, banks,
shadow banks, trusts, and financial products and so on."
Hong Kong’s Oriental Daily reported on 19th that housing
prices of Wenzhou was once the highest in China.
Many local entrepreneurs mortgaged their plants and
family property to invest real estate, which led to the
phenomenon of “universal lending and national real estate."
But many real estate speculators in Wenzhou went bankrupt.
Dozens of people have committed suicide
or have been murdered for debt collection.
Ren Zhongdao indicates that China has 50 cities
in similar crisis with Wenzhou.
A lot of houses in many places have no purchasers.
Ren Zhongdao: “The CCP real estate policy has the major
responsiblity for the problem.
For instance, there were 43 control policies in 10 years,
but the housing prices raised 10 times."
Ren Zhongdao said a report from the Development Center
of the State Council shows that real estate in the third and
fourth tier cities have already started to break.
The real estate bubble will have a huge impact
on the CCP’s political power.
It can even make the regime collapse.
Oriental Daily also indicates that the real estate kidnaps
the economy and will drag the economy into collapse,
which will lead to social unrest.
By then, the Diaoyu Island dispute, southern China sea
dispute, Xinjiang dispute, and Tibet dispute will break out
China will follow Soviet Union’s footsteps and collapse.
Interview/ChenHan Edit/SongFeng Post-Production/LiZhiyuan