Chinese School - Chinese dreams for 2007

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BIZCHINA / Biz Life

Chinese dreams for 2007

(Xinhua)
Updated: 2007-01-02 13:55

Four years working as a white-collar worker in China's largest city of
Shanghai, Liu Xiaoqiang feels he's far from being able to afford his own
apartment there.

He makes 5,000 yuan (640 U.S. dollars) a month as an IT engineer, but
that's only half the average price for a square meter of housing in
downtown Shanghai.

When Liu finished college study in 2002, he had vowed to buy an apartment
in three years at most so that his parents would leave their countryside
home in central Hubei Province and live with him.

"They spent up their savings to finance my education through college
while other villagers had moved into bigger houses," said Liu. "I just
hope houses in Shanghai would be more affordable for home buyers like me."

A recent survey made by the Shanghai government shows 33 percent of the
new settlers in the city think they'd need at least10 years of hard work
to buy an apartment, 32 percent said they would need six to 10 years and
20 percent said five years.

"If the Chinese government's macro control policy could drive down the
house prices in big cities, I might make enough for the down payment of a
two-bedroom apartment in a year or two," said Liuas he moonlighted as a
gaming software programmer on the New Year's Day.

Sun Lijuan's family in north China's Shanxi Province has been in debt
since her daughter came down with pancreatitis last summer. The operation
cost nearly 200,000 yuan (25,640 U.S. dollars).

"If I had been sick like that I doubt if I would have readily paid the
bills," said Sun, a laid-off worker from a state-owned firm in the
provincial capital of Taiyuan.

Sun received a government-sponsored vocational training program toward
the end of the year and is having her fingers crossed that she might find
a new job this year.

She might not know the gloomy job market is set to disappoint tens of
thousands of new graduates in 2007, let alone laid-off workers.

(For more biz stories, please visit Industry Updates)

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