Posted inBeijing, China, Greater Bay Area, Guangzhou

Urban revamp in Shenzhen spawns millionaires

A massive redevelopment project that would tear down old tenement blocks next door to Shenzhen’s science park may spawn more than 1,800 millionaires with net worth of 100 million yuan (US$14 million), as owners will get exceedingly generous compensation from the city’s government for old homes set to be demolished. Chinese news portal Sina reported […]