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The “zero Covid” worsens the real estate crisis in China

2022-07-22T17:36:40.901Z


REPORT - The anger of the Chinese swells in the face of health restriction measures and the many construction sites at a standstill.


Correspondent in Asia

Zheng Hua (1) is an edgy young dad.

Regularly, the police come knocking on the door of this owner of a sports hall, in Chengdu, the great metropolis of Sichuan.

They threaten me and ask me not to file a complaint

,” explains the 27-year-old entrepreneur, who is struggling to make ends meet, caught between the implacable “zero Covid” decreed by President Xi Jinping, and the real estate crisis which weighs down the horizon of the second world economy.

I don't know how I'm going to raise my newborn baby.

We have to eat, while paying the current rent and the monthly payments for the apartment whose construction is blocked.

The family has no right to fall ill”

, summarizes Zheng, in this country where the welfare state is in its infancy.

Read also

A new real estate player in difficulty in China

His gym is regularly closed due to sanitary measures, eating away at his income.

And the construction of the apartment he bought to house his family is blocked due to the promoter's financial setbacks...

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Source: lefigaro

All news articles on 2022-07-22

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