120.000 yuan? That's insanely low for such an area. Are you sure of the numbers?

Sad.

3 to 5 years to set up rules, regulations and laws on shale gas extraction?! And here I thought that one of the pros of having a government like China's (cough, cough, haaaark, spit!) was that the decision-making process was speedy when needed.

And yes, we all know TallAm has a point unfortunately. Increased consumption pared with limited fossil fuel reserves make it inevitable that every single extractable deposit will be done with eventually, and as time passes, fewer and fewer environmental concerns will be addressed.

Crossing my fingers they never get it finished.

Wonder how they'll cope with the millions of migrant construction workers in a year or two when constructions grinds down to a 10th of what it is now. Seems like President Jin will be juggling several hot potatoes soon. I'll be looking for an apartment next year, so naturally I wouldn't mind a 15-20 percent drop in real estate prices personally, although I doubt it will be that much. The Chinese characteristics of this particular area of economics tell me no one wants to even consider selling with a loss unless the bank is there, knocking at your door, and the Chinese generally have a significantly smaller percentage of the RE value mortgaged than we on average have in the West due to savings and/or family loans before coughing up with the deposit.

Come to think of it, predicting what's going to happen in China it's a bit like putting on a blindfold, aim, and hope the dart ends up somewhere in the general direction of the board.