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Increased Idle Floorspace Reported in China
There was already a speedily increased idle floorspace having been built last year and these have since been put so far at a total of over 90 million square meters found yet no sales in China, according to sources from the State Statistics Bureau.
By the end of 2000, as was told, China had seen the fastest growth of commercial housing construction in its Qinghai, Yunnan, Hebei, Shaanxi, Beijing and Tianjin and that in the country there was already a total of 91.24 million square meters of floorspace having been built.
Sources say that the major causes for an enlarged idle floorspace finding no market sale in China lie in the fact that a much greater floorspace over market demand had been built on pegs of an irrational supply-demand structure governing commercial housing construction.
By PD Online staff member Li Yan
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