©REUTERS/Tingshu Wang
Pre-reading questions:
- What problems do you think people face when it comes to finding homes or places to live?
- What factors do you consider before choosing a place to live or deciding on a house to move into?
Vocabulary:
- struggle /STRUHG-uhl /
- debt /det/
- policy /POL-uh-see/
- committed /kuh-MIT-id/
- risk /risk/
[verb] – to experience difficulty and make a very great effort in order to do something
She struggled to meet her deadlines amidst a heavy workload at the office.
[noun] – something, especially money, that is owed to someone else, or the state of owing something
He’s been working hard to repay his debts after borrowing money for his education.
[noun] – a set of ideas or a plan of what to do in particular situations that has been agreed to officially by a group of people, a business organization, a government, or a political party
The company implemented a policy requiring employees to undergo regular training sessions for skill development.
[adjective] – being dedicated, devoted, or deeply involved in pursuing a particular cause, goal, or action
The government remains committed to implementing effective policies for economic growth.
[noun] – the possibility of harm, danger, loss, or an undesirable outcome occurring due to uncertain or unpredictable factors
Investing in stocks involves financial risk due to market fluctuations and economic uncertainties.
Article reading:
Despite having high home ownership rates—over 90% in cities and even more in the countryside—China faces difficulties due to its mobile population. Around 300 million workers live far from their hometowns, with over 60% renting homes on low monthly earnings. Rising home prices make it hard for city dwellers to buy properties, leading to worries, especially among younger people. These concerns contribute to bigger issues such as fewer babies being born and more young people struggling to find jobs. The government’s plan in August stressed a new way to develop the property market, focusing on making homes affordable. The property crisis is a chance for the government to step in. Many big developers can’t pay their debts, leaving around 20 million homes unfinished nationwide. Local governments usually depend on money from selling land, but now they can buy unfinished projects at lower prices. Even though the government is committed to helping, challenges continue as banks face more property risks and the government gets more involved in real estate. Still, their aim to create an ideal society, as envisioned by President Xi Jinping, remains their main goal, despite the risks.
Comprehension questions
- What major problem is China facing in its property market?
- What plan does China have in place for dealing with the housing crisis in 2024?
- How does the mobile population in China contribute to the housing difficulties?
- What challenges do city dwellers face regarding home ownership in China?
- What societal issues arise due to concerns about rising home prices?
Discussion questions
- Have you or anyone you know faced problems finding affordable housing because of higher property prices or unfinished housing projects? If yes, how did this affect your or their daily lives and future plans? If not, have you seen similar situations in your community? How do you think it affects people’s lives?
- What are your thoughts on the potential challenges or interventions related to the property market in your country?
- Do you agree that the issue of incomplete housing projects and soaring property prices in China not only affects individuals’ housing situations but also contributes to broader societal concerns like declining birth rates and youth unemployment?
- Do you believe the government’s efforts, such as buying unfinished projects and investing in city renewal and public housing, will solve China’s property problems? Why or why not?
- What problems might happen because the government is getting more involved in the real estate market to solve the property crisis? How could these problems affect the country’s economy and the people living there?