- CNTV English - CCTV News

Making a beeline for the suburbs

07-04-2011 13:50 BJT

BEIJING, July 4 (Xinhuanet) -- Escalating city property prices have ignited a great race to the suburbs by the urban middle class, mostly young managers and professionals.

(Source: China Daily)

The rush is particularly intense in Shanghai, where prices of apartments in the city have risen by 60 percent on average during the past three years.

The population of the inner city continues to rise as floods of immigrants from rural counties in neighboring regions move in, but better-off young couples are escaping in their droves to seek a better quality of life for themselves and, more importantly, their children.

As a result, many suburbs that were once nothing more than industrial wasteland have enjoyed an unprecedented boom in the construction of sprawling residential complexes, sparkling shopping malls and a host of public-service facilities.

Ma Xinsheng, chairman of the city's retail giant Shanghai Bailian Group Co Ltd, said that the suburbs will be the company's main focus by the end of this year.

"We cannot tell you exactly which suburban areas in Shanghai we are planning to explore by the end of the year because it is a trade secret. But we can tell you that Bailian Group as a whole is about to open more than 800 supermarkets in the suburbs of a number of large cities in China, having discovered the growing purchasing power among residents in these areas," said Ma.

By 2000, Shanghai Lianhua Supermarkets, a subsidiary of Shanghai Bailian, beat Shanghai No 1 Department Store in terms of sales to become the largest retailer in China. By the end of 2010, Lianhua operated 5,172 supermarkets scattered around 19 provinces and municipalities nationwide.

The French hypermarket chain Carrefour SA, for example, has set up about 21 stores across Shanghai, including five of the nine remote districts outside the downtown area.

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program