China cities at the peak of the largest real estate bubble in history

[touchring]

Re: China cities at the peak of the largest real estate bubble in history

#11 Nanjing

http://en.wikipedia.org/wiki/Nanjing

Nanjing is the capital of Jiangsu province in Eastern China.[2] It has a prominent place in Chinese history and culture, having been the capital of China for several periods.[3] Its present name means "Southern Capital" and was widely romanized as Nankin and Nanking until the pinyin language reform, after which Nanjing was gradually adopted as the standard spelling of the city's name in most languages that use the Roman alphabet.[4]


Located in the lower Yangtze River drainage basin and Yangtze River Delta economic zone, Nanjing has long been one of China's most important cities.[5][6][7] Having been the capital city of six different dynasties since 3 A.D., it is recognized as one of the Four Great Ancient Capitals of China.[8] It was the capital of Wu during the Three Kingdoms Period,[9] and the capital of the Republic of China prior to its flight to Taiwan during the Chinese Civil War.[10]

With an total population of 8.16 million[14][15] and a urban population of 6.55 million,[16][17] Nanjing is the second-largest commercial centre in the East China region after Shanghai. It has been ranked seventh in the evaluation of "Cities with Strongest Comprehensive Strength" issued by the National Statistics Bureau, and second in the evaluation of cities with most sustainable development potential in the Yangtze River Delta. It has also been awarded the title of 2008 Habitat Scroll of Honour of China, Special UN Habitat Scroll of Honour Award and National Civilized City.[18]

Metro map

[touchring]

Re: China cities at the peak of the largest real estate bubble in history

#12 Ningbo

http://en.wikipedia.org/wiki/Ningbo

Ningbo, also formerly written Ningpo, is a seaport city in the northeast of Zhejiang province, People's Republic of China. Holding sub-provincial administrative status and separate state-planning status,[2] as of the 2010 census, the municipality has a population of 7.6 million — with 3.5 residing within the 6-district urban area proper. The city lies south of the Hangzhou Bay; faces the East China Sea to the east; borders Shaoxing to the west; borders Taizhou to the south; and is separated from Zhoushan by a narrow body of water.

Link: http://bbs.home.news.cn/upfiles/0505D384.002C

Metro map

[touchring]

Re: China cities at the peak of the largest real estate bubble in history

#13 Wuxi

http://en.wikipedia.org/wiki/Wuxi

Wuxi is an old city in the southern Jiangsu province, People's Republic of China.


Split in half by Lake Tai, Wuxi borders Changzhou to the west and Suzhou to the east. The Yangtze River lies between the northern half of Wuxi and Taizhou, while the southern half of the city borders the province of Zhejiang. Wuxi is also famous for being one of the birthplaces of China's modern industry and commerce, as well as the hometown of many important businessmen, who played essential roles in building modern Shanghai commerce since the early 20th century.

Metro map

[dcarrigg]

Re: China cities at the peak of the largest real estate bubble in history

I love this thread! Thanks for all the work!

[touchring]

Re: China cities at the peak of the largest real estate bubble in history

I love this thread! Thanks for all the work!

Thank you. The skyline of Chinese cities changes every 2-3 years, particularly so for the lower tier cities. It is a challenge to find recent city photos, particularly those who could capture the newer buildings built during the bubble stage (post-2009).

Many of these cities are so near each other that they can actually form a metropolis. For example, the Yangtze River Delta and the Pearl River Delta.

The Pearl River Delta, which comprises of tier 1 cities such as Hong Kong, Guangzhou, Shenzhen has a combined urban population of nearly 60 million people, over an area slightly smaller than Switzerland or the Netherlands. In comparison, the population Switzerland and the Netherlands are 8 million and 17 million each.

http://en.wikipedia.org/wiki/Pearl_River_Delta

The Yangtze River Delta has a total urban population of 83 million and comprises of Shanghai, Nanjing, Hangzhou, etc.

http://en.wikipedia.org/wiki/Yangtze_River_Delta

China is building an intercity high speed train rail network within the Yangtze River Delta. It will be interesting to see what are the economic effects when 83 million people can meet up with each other within an hour of commute by rail and buses. This would create a mega city of the population of Germany, and a super e-commerce market where deliveries can be made within the same day.

http://www.chinahighlights.com/trave...llet-train.htm

Shanghai to Hangzhou/Hangzhou to Shanghai Bullet Train


Shanghai Terminus: Hongqiao Railway Station
Hangzhou Terminus: Hangzhou East Station
The best way to travel between Shanghai and Hangzhou is by a bullet train. There are plentiful bullet trains running on the Shanghai-Hangzhou High Speed Rail Line. This line was put into use in October 2010, making a train ride between Shanghai and Hangzhou shortened to only 45 minutes.



The new line travels between the Shanghai Hongqiao Station (上海虹桥) and Hangzhou East Station (杭州东站）. The trains travel the 150 kilometer distance in about 45 minutes. It reaches a top speed of about 350 kilometers an hour or 217 miles an hour. About 150 trains travel between the city each day, and the passengers travel on several different models of trains. One of the models is China’s first Chinese-designed train to travel at that speed. Tickets between the Shanghai Hongqiao Station and Hangzhou cost about 130 RMB or 85 RMB or 20 dollars and 12 dollars depending on the class.

Along with frequent departures, part of what makes the new line convenient for travel between Hangzhou and Shanghai is that the Hongqiao Station is next to Shanghai’s International Airport, and it is on Shanghai’s Subway Line 2. Also, if you miss your train, you can easily get a replacement ticket at a window and catch a train soon after.

[touchring]

Re: China cities at the peak of the largest real estate bubble in history

#14 Suzhou

Suzhou, formerly romanized as Soochow, is a major city in the southeast of Jiangsu Province in Eastern China, adjacent to Shanghai Municipality. The city is on the lower reaches of the Yangtze River and on the shores of Taihu Lake and is a part of the Yangtze River Delta region. Administratively, Suzhou is a prefecture-level city with an urban population of over 4 million in its core districts. With its administrative area expanding to over 10 million of population as of 2010, Suzhou is the ninth most populous city in mainland China.[3] It is considered one of the richest major cities in China.[4]


Originally founded in 514 BC, Suzhou has over 2,500 years of rich history, and relics of the past are abundant to this day. Circa AD 100, during the Eastern Han Dynasty, it became one of the ten largest cities in the world due to immigration.[5][6] Since the 10th-century Song Dynasty, it has been an important commercial center of China. During the Ming and Qing Dynasty, Suzhou was an economic, cultural and commercial[7] center of China, as well as the largest non-capital city in the world, until the 1860 Taiping Rebellion.[8] When Li Hongzhang and Charles George Gordon recaptured the city three years later, Shanghai had already taken its predominant place in the nation.[9]

Metro map




Just a note that Suzhou along with Hangzhou were among the wealthiest cultural cities in the world during ancient times.

Marco Polo on Suzhou

Soochow is a very great and noble city. The people are subjects of the Great Khan, and have paper money. They possess silk in great quantities, from which they make gold brocade and other stuffs, and they live by their manufactures and trade.
The city is very great, as large as 60 square miles. It contains merchants of great wealth and an incalculable number of people. Indeed, if the men of this city and of the rest of the country had the spirit of soldiers they would conquer the world; but they are not soldiers at all, only accomplished traders and most skilled craftsmen. There are also in this city many great philosophers and others who do not appear to work.
In this city there are 6,000 bridges, all of stone, and so lofty that two ships together could pass underneath them.
In the mountains belonging to this city, rhubarb and ginger grow in great abundance. The city has 16 other great trading cities under its rule.

http://afe.easia.columbia.edu/mongol...co.htm#soochow

[Fox]

Re: China cities at the peak of the largest real estate bubble in history

It will be interesting to see what are the economic effects when 83 million people can meet up with each other within an hour of commute by rail and buses.

I think it would be exactly opposite of the economic effects of 83 million people being killed daily on a shoddily built rail system or superhighways full of drivers with no sense of patience or courtesy.

China is not ready for the grandiose future it envisions.

[touchring]

Re: China cities at the peak of the largest real estate bubble in history

I think it would be exactly opposite of the economic effects of 83 million people being killed daily on a shoddily built rail system or superhighways full of drivers with no sense of patience or courtesy.

China is not ready for the grandiose future it envisions.

This was my belief earlier on.

I traveled from Nanjing (#11) to Shanghai (#4) 10 years ago, a two and a half hour journey by train, Shanghai station was fine, but Nanjing was literally a mass orgy as the new station was still under construction and there were a lot of peasants on the train. The same journey by high speed rail today will take 1 hour 15 minutes - http://www.chinatrainguide.com/shang...n/nanjing.html

Suzhou (#14) is in between Nanjing and Shanghai, 50 miles from Shanghai, 30 minute journey by high speed rail, $6 one-way ticket - http://www.chinatrainguide.com/shang...on/suzhou.html

Watch the video and notice at the 7th minute, as the train approaches Kunshan station (a Shanghai satellite city) there are actually people queuing up in a single file waiting to enter the train!

All the cities from Nanjing to Suzhou to Shanghai are part of the Yangtze River Delta Economic Zone.

http://www.chinadaily.com.cn/cndy/20...t_16694053.htm

New high-speed rail starts operation

[bill]

Re: China cities at the peak of the largest real estate bubble in history

thanks for all the links.

just wanted to add this info,,,

http://www.fsdi.com.cn/english/Aboutus/introduce.aspx

rief Introduction of FSDI China Railway First Surver & Design Institute Group CO.,LTD. (FSDI) was established in Tianshui of Gansu Province in January, 1953. In March of the same year, it was moved to Lanzhou of Gansu Province. In November 2003, FSDI was integrally incorporated into China Railway Construction Corporation from The Ministry of Railways. In December, 2005, FSDI was moved to Xi'an of Shaanxi Province. Since half century, FSDI has already completed key construction projects of state (province and ministry) which spread over 26 provinces, municipalities and autonomous regions as well as Iraq, Nigeria, Tanzania and so on. Feasibility study, survey and design of every phase of 400,000 km. of railway lines have been accomplished. The total mileage of railway main lines has been up to about 20,000 km., among them there are state long trunk line railways such as Lanzhou~Urumqi Railway, Qinghai~Tibet Railway, Baotou~Lanzhou Railway, Baoji~Zhongwei Railway and etc. At the same time, FSDI also participated in subway projects in major cities, successively undertook the highway projects over 10 provinces and cities, and designed the large-scale interchanges which have the important influence in the whole country.

China Railway Construction Corporation
http://english.crcc.cn/Page/508/default.aspx

several planned high-speed rail lines.
http://www.wantchinatimes.com/news-s...00081&cid=1502


HK 1186
http://www.google.com/finance?q=HKG%...H5O1iALJrICoAw

http://www.conventuslaw.com/baker-mc...bond-issuance/

14 August, 2014

Baker & McKenzie’s US Securities team in China and Hong Kong recently advised its long-standing client China Railway Construction Corporation Limited (CRCC), a state-owned construction enterprise in China, on a USD 800m 3.95 percent guaranteed bonds issuance pursuant to Regulation S under the U.S. Securities Act. In May 2013, the Firm also advised CRCC on the offering of USD 800m 3.50 percent guaranteed bonds due 2018.

The Baker & McKenzie team was led by partner Lance Chen, who commented: “We are extremely pleased to have assisted our long-standing client CRCC to bring this strategically important transaction to fruition within the requested timeline. It will be interesting to see if this will lead to more debt financing transactions by Chinese SOEs and companies.”

Citigroup, HSBC, DBS, BNP Paribas and UBS acted as the joint lead managers for the issuance of the Bonds. Clifford Chance acted for the banks and trustee.

[Adeptus]

Re: China cities at the peak of the largest real estate bubble in history

Such pretty looking modern cities, even some green here and there. Even more appealing at 25% off...unless you've already bought that is.

And so it begins....


Source: http://www.marketwatch.com/story/chi...hes-2014-08-26
China’s falling real-estate prices trigger protests, clashes


Published: Aug 27, 2014 6:13 p.m. ET

Reuters

Prospective buyers look at a model of a new residential compound at a showroom in Hangzhou, China.

By
LAURAHE

ASIA MARKETS REPORTER

HONG KONG (MarketWatch) — The sharp drop in China’s housing prices has led to an outburst of anger among property owners, leading to violent clashes in some cases, according to local media reports Tuesday.

In one case, scores of property owners surrounded a Shanghai sales office of Greentown China Holdings Ltd. 3900, +0.62% GTWCF, -33.19% to protest the developer’s 25% cut to prices within a five-day period, according to a report on the NetEase NTES, -0.41% news portal site 163.com.
Protesters held banners with slogans such as “You cheated us!” and “300,000 yuan [$48,750] worth of assets evaporate within five days — years of work in vain!” according to photographs of the demonstration posted on the site.

The report quoted a sales manager from Greentown as saying that the price-cut was aimed to boost sales and “cope with competition” from rival China Vanke Co.2202, +1.68% the nation’s largest residential property developer.

In other Chinese cities, such confrontations between buyers and developers have turned violent.

In the eastern city of Jinan, banner-carrying owners blocked a street to protest another 25% price cut for a local housing development, this one conducted over the space of two weeks, according to the local-government-run Life Daily newspaper. The protesters clashed with a group of counter-protestors suspected to have been hired by local developers, injuring some of the demonstrators and forcing the police to break up the fight, 163.com said in a separate report.

[touchring]

Re: China cities at the peak of the largest real estate bubble in history

http://news.sky.com/story/1194709/ch...-to-be-doubled

China: High-Speed Rail Network To Be Doubled


China builds 6,000 miles of track in the time the UK only debates the merits of constructing 100 miles of high-speed rail line.10:31am UK, Tuesday 14 January 2014


By Mark Stone, China Correspondent, in Beijing
China has announced it will spend £60bn this year in an effort to almost double the size of its high-speed rail network.

The investment forms part of a project which represents the largest and fastest rail expansion programme in the world.

Since 2008, and in the time Britain has taken only to debate the merits of one line - HS2 - which would be just over 100 miles long, China has built 6,000 miles of track, much of it elevated, and invested in 1,000 high-speed trains.

The network is currently almost double the combined length of Europe and Japan's railway networks.

The programme, the government says, forms a key part of the country's drive to modernise, urbanise and pull the Chinese people out of poverty.

Sky News took a ride on the 10am from Shanghai to Beijing. Bang on time, the shiny new bullet train pulled out of the city's Hongqiao station.

The train, 16 carriages long, has three classes: standard, first and business, which resembles the interior of an aeroplane.

He said: "Our country is building an entire high-speed rail system and it has made our travel easier.

"It has shortened the journey between cities. It helps a lot on our work and life.

"On the airlines, there are always delays. They are very unreliable.

"I used to travel by plane, but now I almost always use our high-speed trains to go everywhere. They are comfortable, environmentally friendly, and always on time."

Out of the window the Chinese countryside is a blur as the train reaches its cruising speed of 190mph.

China now boasts the world's fastest conventional train. The CRH380A, manufactured by the Qingdao Sifang Company, has a top speed of 237mph, but in test runs it reached 302mph.

The trains run on a network of new lines, many of which are elevated. Together they knit together more than 100 cities across the country.

China high speed trains
The country has the world's fastest train with a top speed of 237mph
Each of the cities has a vast new station. Most look more like airport terminals and they are packed - proof that this railway revolution has got China moving.

Another passenger, Zhao Changhua, is an office worker from the city of Jinan. She has just started commuting to Shanghai for work - a distance of 535 miles, but a journey time of just four hours.

She told Sky News: "It's very comfortable. It's convenient and fast. I'm very proud of it.

"It's the result of the fast development of our country's technology. It has given great benefits to our lives.

"This is my second time on a high-speed train, I think it's much easier than taking a plane.

"Airports are far away from the city centre while train stations are closer. So I choose high-speed trains."

The journey from Shanghai, west, then north, to Beijing is 800 miles - the length of the UK. It is completed in four hours, 48 minutes.

In second class, it costs the equivalent of £55, in first it is just under £100 and in business it costs £175.

Outside we see glimpses of rural China carved up by the new lines, but we also spot new cities springing up. It is evidence that the new rail network is stimulating the local economy at every stop.

Roland Boal in China
Designer Roland Boal says the China network is a huge opportunity
Of all the passengers we spoke to, none had a bad word about the service. Most hoped that China could help the UK with its high-speed train development.

Mr Zhou said: "I hope the British government will use Chinese technology, let China help you to build your high-speed railway."

What none of the passengers realise is that the train they are on is actually designed, in part, with the help of a UK firm.

Priestmangoode is a design consultancy based in the UK but with a growing footprint in China. The company has combined the UK's flair for quality design with China's willingness to pay for it.

Roland Boal, head of Priestmangoode's China division, explained that China's "can do" attitude and seemingly bottomless pockets are a huge opportunity.

He told Sky News: "There is a hunger for new and exciting things. China is moving really fast and moving forward.

"There is a certain sense of excitement among people here and I think they want products that reflect that, whether it's a train or a plane.

"If it's a high-speed train, then make it look really fast. Not pared back; make it look fast.

"Western companies need to pay a lot more attention to what's happening here.

China's high speed rail line
The country's high speed network runs on elevated lines
"I get very upset when I hear things like 'of course it broke, it was made in China' or 'I don't buy that company's products because they're made in China'. I think there is such an out-of-date attitude towards the obvious capability of manufacturing in China."

This railway revolution is not without significant controversy, though.

In 2011, two high-speed trains collided. Forty people were killed and 172 others injured.

Had the trains been travelling at full speed, the number of dead would have been significantly higher.

A signalling failure was blamed; the whole project was questioned and almost cancelled.

A further controversy stems from the fact that the technology behind the network is not Chinese.

In the early stages of the project, China bought high-speed train sets and technology from Canada's Bombardier, Japan's Kawasaki, Germany's Siemens and France's Alstom.

Chinese engineers then combined these technologies and produced their own trains.

Corruption has also plagued the project. In July last year, the country's railways minister, Liu Zhijun, was jailed for corruption, bribery and abuse of power. His demise brought the financial cost into focus.

At the last count, the existing project had cost £24bn through Chinese government loans, according to figures published in the Chinese state media.

The government hopes to recoup some of those costs by selling its success abroad.

China is in talks with countries including Romania, Georgia, Thailand, Burma and several in South America.

There is also a desire to help the US and the UK with their own projects.

The Chinese government, which runs the network through its Ministry of Transportation, declined our request for an interview for this report and refused Sky News all official access to their trains and stations. No reason was given.

The report was compiled without their agreement.

However, speaking to the Chinese media, and addressing the safety concerns, Deng Xiaojun, deputy chief engineer of Qingdao Sifang, one of the state-owned locomotive manufacturers, said that the trains are designed according to international standards and in some areas even stricter.

He told China's Xinhua news agency: "We have a rounded mechanism to ensure the train's safety operation."

Back on the train, and on time - almost to the second - the 10am from Shanghai pulls into Beijing South station.

:: Watch Sky News live on television, on Sky channel 501, Virgin Media channel 602, Freeview channel 82 and Freesat channel 202.

[touchring]

Re: China cities at the peak of the largest real estate bubble in history

Such pretty looking modern cities, even some green here and there. Even more appealing at 25% off...unless you've already bought that is.

And so it begins....

It's the peak of the bubble, but it won't be the only bubble. 6 years after the bust, Dubai is experiencing another bubble. This is the advantage of an emerging market, the peaks are less than 10 years apart.

http://www.arabianbusiness.com/is-du...e--553877.html

We could scoop some Chinese REITS for cheap.

[touchring]

Re: China cities at the peak of the largest real estate bubble in history

#15 Shenyang

http://en.wikipedia.org/wiki/Shenyang

Shenyang, formerly romanized as Mukden, is the capital and largest city of Liaoning Province,[2] as well as the largest city in Northeast China by urban population.[3] According to the 2010 census, the city's urban area has 6,255,921 inhabitants, while the total population of the Shenyang municipality is up to 8,106,171.[4] Currently holding sub-provincial administrative status,[5] the city was once known as Shengjing or Fengtian Prefecture. In the 17th century, Shenyang was conquered by the Manchu people and briefly used as the capital of the Qing dynasty.[6]


Along with its nearby cities, Shenyang is an important industrial centre in China,[7] and serves as the transportation and commercial hub of China's northeast—particularly with Japan, Russia, and Korea.[8] A titan of heavy industry since the 1930s, and the spearhead of the Chinese central government's Northeast Area Revitalization Plan,[9] the city has been diversifying its industry and now has a solid industrial foundation, a good land and air transport network, abundant natural resources, and a skilled workforce.

Metro map

[touchring]

Re: China cities at the peak of the largest real estate bubble in history

High speed rail in operation and under construction by country - http://en.wikipedia.org/wiki/List_of...eed_rail_lines

	China[4]	Asia	14,424	13,053	27,479	25 kV 50 Hz	1,435
	Spain	Europe	3,100	1,800	4,900	25 kV 50 Hz	1,435
	Japan	Asia	2,664	782	3,446	25 kV 50/60 Hz	1,435
	Turkey	Europe and Asia	1,420	1,506	2,926	25 kV 50 Hz	1,435
	France	Europe	2,036	757	2,793	25 kV 50 Hz (partially)	1,435
	Iran	Asia	0	1,975	1,975	25 kV 50 Hz	1,435
	Germany	Europe	1,334	428	1,762	15 kV 16.7 Hz	1,435
	Italy[5][6]	Europe	923	300	1,123	25 kV 50 Hz, 3 kV DC	1,435
	South Korea	Asia	412	562	974	25 kV 60 Hz	1,435
	Russia	Europe	649	0	649		1,520
	Saudi Arabia	Asia	0	550	550	25 kV 50 Hz	1,435
	Morocco	Africa	0	350	350	25 kV 50 Hz	1,435
	Taiwan	Asia	345	0	345	25 kV 60 Hz	1,435
	Uzbekistan	Asia	344		344		1,520
	United Kingdom	Europe	113	192	305	25 kV 50 Hz	1,435
	Belgium	Europe	209	0	209	25 kV 50 Hz	1,435
	Netherlands	Europe	120	0	120	25 kV 50 Hz	1,435
	Norway	Europe	64	54	118	15 kV 16.7 Hz	1,435
	Switzerland	Europe	35	72	107	15 kV 16.7 Hz	1,435
	Austria	Europe	93	0	93	15 kV 16.7 Hz	1,435
	Denmark	Europe	5	60	65	25 kV 50 Hz	1,435
	Australia	Oceania					1,435
	Czech Republic	Europe					1,435
	Finland	Europe					1,520
	India	Asia					1,676
	Mexico	Americas	0	0	0	25kV 60 Hz	1,435	Construction begins in October 2014.
	Portugal	Europe	0	0	0	25 kV 50 Hz	1,435	Plans halted.
	Thailand	Asia					1,435
	United States	Americas	0	0	0		1,435	No dedicated lines.

[touchring]

Re: China cities at the peak of the largest real estate bubble in history

#16 Hangzhou

http://en.wikipedia.org/wiki/Hangzhou

Hangzhou, formerly romanised as Hangchow, is the capital and largest city of Zhejiang Province in Eastern China.[4] It sits at the head of Hangzhou Bay on China's coast between Shanghai and Ningbo. Hangzhou grew to prominence as the southern terminus of the Grand Canal and has been one of the most renowned and prosperous cities in China for much of the last millennium, due in part to its beautiful natural scenery. The city's West Lake is its best-known attraction.


Hangzhou is classified as a sub-provincial city[5] and forms the core of the Hangzhou Metropolitan Area,[2] the fourth-largest metropolitan area in China.[6] During the 2010 Chinese census, the metropolitan area held 21.102 million people over an area of 34,585 km2 (13,353 sq mi).[2] Hangzhou prefecture had a registered population of 8.7 million[7] and the built-up area (including the Keqiao and Yuecheng districts of Shaoxing) held 8,156,600. The municipality had a population of 6.242 million, of whom 3.56 million lived in the six urban districts.

Metro map



Another city in the Yangtze River Delta.