Just to be clear, in case someone comes to this thread on page 3 and draws the wrong conclusion about the rental multiplier. The rental multiplier does not set the property value. It is just a crude indicator to the level of property prices, i.e. overpriced (bubble) or under priced (depressed). I have heard figures of 200-300x being used to describe a sensible level, but that is of course subjective. I have only heard it used in this way, for the domestic property market.
As for leasing values of commercial property, that is a totally different market. People buy commercial property with the aim to earn/rent it out usually, and not as an investment. About 5 years ago we were quoted commercial property rents in Kunming (not in prime locations) that were higher than they were in comparable districts (not prime locations) in Shanghai. I cannot suggest reasons for this particular form of madness, except just dumb avarice.
Seven billion yuan Green Lake area renovation to take three years
发布者If they were to do a complete cycle way (no cars) around Dian Chi, or even just around the Grass Sea (Dianchi North of the Causeway) that would be an asset to the wider community, and would not cost that much. Especially now that there are so many OFO/Mobike rental bikes.
Seven billion yuan Green Lake area renovation to take three years
发布者OK so it is the slightly wider area. But that is a lot of money. I don't see them recouping through tourist spending.
Add this to the airport proposals, and it looks like massive gov spending to prop up GDP growth.
Seven billion yuan Green Lake area renovation to take three years
发布者CNY 7 bn = USD 1 Bn plus, for on small park. Things that make you go hmmm?
China to overhaul high school education in "poverty-stricken" regions
发布者Then you are comparing apples and oranges, without switching subjects first.
China to overhaul high school education in "poverty-stricken" regions
发布者I would think that the 20% is percentage of the population/young population, not the percentage of high school grads who go on to the next level. I would think, but don't know, that most of the people who do not go on to tertiary education, left the system after middle school.