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limit

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  1. if an adverage pensioner's life saving is 30-40k ( not including property), and a year of adverage care cost 30-40k. something is seriously wrong here , either the life saving is far too little, or the care cost is comparisonly too expensive.
  2. as a parent myself to a two years old, i see it's only a natural human instinct to help out your children, if you are able to; of course it has to be done sensibly. having some help out from my parents, that does make a vital difference to us,( through we are still waiting for the better chance, we have been waiting since 2007...) i am very much greatful to them, and no doubt i/we will later do our best in the little one's best interest, just like what my parents did for me. generally, i do not see a helping hand from parents is a negative thing, the relationship between family/generations are usually more closer than those did not. it's not the amount but attitude offering the help that really count. i learn that also from my exdended family, my mother in law had charged a third of hudsban's salary for many years during the years living with her in his parents' house, despite of her son's daily 3 hours commute to work, she claimed that weekend should bring her shopping as it was her leisure time, and made fusse about his own time out on the weekend. ( she's a housewife all her life and does weekly shopping with neighbours in week days after her husband passed away). of course the boys get no helps at all from study to finacially what so ever, all her interests was a very much her presentable nice looking house. then you see she lives on her own, but the brother in law never care to visit her except for the christmas and birthday for much of 20 years, when he lives only one hour travel distance.
  3. we were once on a trip in shanghai's busiest nanking road 5 years ago, my hudsband were stunned by the queue of people out side of an Häagen-Dazs ice cream cafe reataurant, there were 30 if not 40 people waiting to get in. all these kind of shops ( starbucks...) are doing very good business in there by marketing themselfs as high end of the market. apparently the same type of people were also queuing out side of jamie oliver's restaurant in kingston...
  4. if the government really want to improve social mobility, they could let the state takes over all the privite schools, make them become very academic grammar schools. so it's not down to parents money but the child's intelligence. the brightest children from the poorer back ground can get the grants. middle classes game the system with tutors is fine, it's the right parenting actitude the government should encourage. you actually can see in america, many first generation migrant parents from poorer back ground, who themselfs were in very low pay jobs, but they push their children to the top universties, and later the second generation become the middle class themselfs. there's will there's way, regardless the back ground of wealth or poverty.
  5. the sentiment definitly and gradually is changing now, i only hope interest rate will follow suit before too long. can't see any hope yet...
  6. i thought bank of communication is one of the best and chinese banks ( another one is china merchants bank). it made 507b yuan ( £50b ) net profit in year 2011, year to year up 29%. i think hsbc owns 19.6% of the bank. the option will be their last year's net profit, not a big problem actually.
  7. mistake: property tax should be 0.4% to 0.6% /per year of property value.
  8. maybe something to do with the rumours of new property tax on those second( and plus) falts, wich might start from june 2012, and it is planed to apply on far more tire one and tire two cities than just it is now ( only two cities, shanghai and chongqing, new buy second falts is on 0.4-1.6% tax ) . the rumours also says it would apply not just for the new buys but all the second (and plus) falts. http://www.reuters.com/article/2012/03/13/us-china-property-tax-idUSBRE82C1FU20120313 http://www.shanghaidaily.com/article/article_xinhua.asp?id=65926 in tire one cities in china, like shanghai, beijing, shenzhen, a typical nothing special 3 bed falt is about £200k- £300k, with 70 years lease, and nobody knows how government's policy will be when the lease is finished; the property price to average single earning ratio should be more than 30-40, but then there are far more people are earning more than average. the rental yield in china are very low compare here in uk, the rent for a £300k falt is arround £7k/year in the good location, it's 2.5%, when the real inflation has been more -than 7-8% for many years. if the new preporty tax start to apply to more cities and on all the second falts, i wouldn't be surprised some household have more than one falts might be thinking selling in china now, and buying somewhere overseas where has a very 'soft and friendly' property rules.
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