How did 6 million people in China buy homes that don’t exist?

What in the World

• Episode: How did 6 million people in China buy homes that don’t exist?
• Website: What in the World
• Feed URL: https://podcasts.files.bbci.co.uk/w13xtvrv.rss
• Duration: 00:13:43
• Published: 2023-10-10 16:05

China is in the middle of a housing market crisis. Two of its top property developers, Evergrande and Country Garden, are struggling to pay back debt or fulfil their promises to build properties they have already sold to millions of people.

Fan Wang, a BBC reporter in Singapore, tells us about societal pressures young people face to be home owners in China.

Chen Yen, a journalist at BBC’s Chinese service in Hong Kong, takes us through the details of the housing market.

And as China is the world's second-largest economy, what kind of damage could a collapse of its property market cause? Nick Marsh, our Asia Business Correspondent explains how concerned we should be.

Email: [email protected] WhatsApp: +44 0330 12 33 22 6 Presenter: Hannah Gelbart Producers: Emily Horler, Benita Barden and Julia Ross-Roy Editors: Verity Wilde and Simon Peeks