Fortune 500 bosses slam city housing for pricing out residents
By Shen Jingting | China Daily | Updated: 2010-05-27 07:51
The soaring housing price in Beijing has drawn the attention of Fortune 500 CEOs, with some claiming it has damaged the capital-'s economic health and forced university graduates out of the city.
"There is no value in building one of the world's most desirable cities if working people cannot afford to live in it," Hubertus von Gruenberg, chairman of ABB Group, said on Wednesday at the Ninth Meeting of International Business Leaders Advisory Council for the Mayor of Beijing.
He said housing prices in Beijing have soared in recent years.
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