Huaxi "China's Richest Village" IS GO...

Huaxi "China's Richest Village" IS GOING BROKE

Posted in the China Forum

CCP makes CHINA WEAK

Port Moody, Canada

#2 Apr 15, 2013
This will likely be the site of the World's FIRST combination Skyscraper-Pig-Pen !!!
CCP are BANDITS

Port Moody, Canada

#3 Apr 15, 2013
'Richest' village's luxury hotel loses money
By Yang Jian | 2013-4-16 |

Apr 16, 2013

THE new leader of a village that calls itself China's richest responded to reported financial losses at the village's new, iconic luxury hotel and other tourism projects by saying some losses are inevitable during the village's transformation to tourist mecca.

Wu Xie'en, Party chief of Huaxi Village in Jiangsu Province's Jiangyin City, said that while investments on the tourism are running a deficit now, they will become the most profitable property of the village in the future.

Wu Xie'en is a son of the village's former Party chief Wu Renbao, who led the transformation of the village by making its residents shareholders and talking up his grandiose plans. Wu Renbao died in March of cancer.

"The village aims to eliminate backward industries and develop tourism and modern agriculture, otherwise it will be a dead-end road for the village's development," Wu Xie'en said.

...
CCP are BANDITS

Port Moody, Canada

#4 Apr 15, 2013
...
The Long Hope International Hotel, built for 3 billion yuan (US$485 million), and mostly backed by the residents, was seen as the symbol of the village's transformation. The 74-story five-star hotel, part of a 328-meter-tall tower, is China's eighth-tallest building.

However, the hotel only made 150 million yuan in revenue last year, making it far from the profitable, said Dai Liming, the hotel's general manager.

The losses at the hotel were announced at the first meeting of stockholders of the village, or the Shenzhen-listed Huaxi Group, after Wu Renbao's death.

Also, a major part of the revenue actually came from the villagers rather than tourists, according to Dai.

To increase "domestic demand," the village gave fewer annual bonuses to its 2,000 resident shareholder families in 2012 but instead handed out coupons that could be used only at the hotel and shopping malls in the village.

Many villagers used the coupons to move into the hotel and some families stayed for as long as a month.

There are dozens of families living in the hotel every month, according to Dai. The lobby, glittering in gold and silver tones, often has children running through it.

Other tourism spots in the village also lost money, such as the helicopter tour and five luxury clubs in the hotel.

"The village concentrates less on the sales volume or GDP, than on how to transform its traditional industries at a faster pace," said Wu Xie'en.

The village grew around industries like steel, cement and fabric factories, which enriched many residents.
CCP cant even rule China

Port Moody, Canada

#5 Apr 15, 2013
"And meanwhile even the China Daily's painfully discreet reporter cannot avoid mentioning that Huaxi's wealth adhered more plentifully to some villagers' pockets than to others. "Wu's four sons… dispose [of] 90.7 per cent of the village's funding," he noted."

FROM:
http://www.independent.co.uk/news/world/asia/...

The CCP Landlords ONLY stole 90.7% of the money?

That IS NEWS and PROGRESS for CCP China!

HA HA HA HA HA HA HA!
REMEMBER TIANNANMEN

Surrey, Canada

#6 Apr 15, 2013
"The Long Hope International Hotel, built for 3 billion yuan (US$485 million), and mostly backed by the residents, was seen as the symbol of the village's transformation. The 74-story five-star hotel, part of a 328-meter-tall tower, is China's eighth-tallest building.

However, the hotel only made 150 million yuan in revenue last year, making it far from the profitable, said Dai Liming, the hotel's general manager."

Should have been called "The Long Shot International Hotel and Pigsty".......
CHINA CRASH is HERE

Port Moody, Canada

#7 Apr 16, 2013
"To increase "domestic demand," the village gave fewer annual bonuses to its 2,000 resident shareholder families in 2012 but instead handed out coupons that could be used only at the hotel and shopping malls in the village.

Many villagers used the coupons to move into the hotel and some families stayed for as long as a month."

Soon, the locals will use their "coupons" for space for storing grain and keeping pigs!
CHINA CRASH is HERE

Port Moody, Canada

#8 Apr 18, 2013
Hmmmm.

Shoddy Chinese construction probably rules out grain storage.....the CCP Cadres stole all the re-bar, quite likely, so it could never take the weight of grain.....

SKYSCRAPER PIGPEN IT IS, THEN!

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