Shenzhen has grown rapidly over the past 40 years, such that its GDP reached a massive 2.7 trillion RMB in 2019. Just this month, the Chinese government released a five-year plan to make Shenzhen a “pilot demonstration area for socialism with Chinese characteristics”. Amid plans for reforms and new initiatives, EAI academic Yu Hong asks: How much autonomy will Shenzhen have, and what challenges will it face?
With salary cuts, housing loans on their backs and little means of generating cash flow, middle-class workers across China’s cities are walking the tightrope of trying to maintain their living standards while keeping up with their mortgage payments. The recently-announced stimulus plan may not solve their housing woes either.
Appointments for divorce are fully booked on Shenzhen Civil Affairs Bureau’s marriage registry system. The next slot will only be available after mid-June. Divorce rates are on the rise in China, presumably due to increased frictions between couples brought about by extensive lockdowns. But a complicated web of social policies tied to one’s marital status, be it buying a house or getting a loan, may be the hidden lever tipping decisions towards divorce.
Lianhe Zaobao correspondent Yang Danxu talked to a Shanghai Didi driver whose family made nearly 20 million RMB (close to S$4 million) from the government's relocation exercises. His old properties measured just 35 square metres in total. What a way to get rich! But what are the problems that lie beneath the surface?