True face of China -- A Modern Kaleidoscope Message Board

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Strategies & Market Trends : True face of China -- A Modern Kaleidoscope

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To: hui zhou who wrote (2401)	11/9/2007 10:12:11 PM
From: RealMuLan	Read Replies (1) of 12464

One thing is for sure, ALL those new born real estate billionaires have some way to access huge amount of interest free loan from State banks, like Kong Shou Tao Bai Lang, using public money to make profit for themselves. Cheap land is not major reason, especially not in Shanghai, Beijing and other big cities because Land in those big cities are NOT cheap. "Free labor" is a major reason. No, not cheap labor. Cheap labor still cost money. 70-80% companies owing workers back pay in China are in construction business, some of those workers could not get paid for more than 10 years. The things get much better after Wen Jiabao comes into office, but every year before Spring Festival, the State Council still has to make special effort.

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