Daily Lessons from Life 11 October 2011 - China's 'wealthiest village' of Huaxi

"A new landmark skyscraper, Longxi International Hotel, has opened for business in China's 'wealthiest village' of Huaxi, situated in Jiangsu province. The 74-story hotel screams for attention at 328 metres and raises the skyline of the otherwise low-lying village to a new height.

AFP, China Daily

The building ranks as the 15th-highest skyscraper in the world, dwarfing many famous buildings such as the Eiffel Tower in Paris and New York's Chrysler Building. There are around 10 taller buildings in China - including the Shanghai World Financial Center, the third highest in the world - but all of these are in major cities.

The five-star hotel cost US$470 million (S$606 million) to build and was partly financed by the villagers. On the 60th-floor of the tower, a solid gold bull weighing a tonne greets visitors at a viewing area, a testament to the wealth of the village.

Guests walk in the lobby of the new skyscraper tower of Huaxi village before its official inauguration, October 7, 2011. According to China Daily, the building has more than 800 suites, which could accommodate about 2,000 people.

The high-rise also features an exhibition hall, meeting rooms (above), revolving restaurant, rooftop swimming pool and gardens, reported China Daily.

Huaxi is still classed as a village in east China's Jiangsu province despite having expanded significantly over the years, engulfing nearby villages and its population growing to 50,000 from 1,600 in the 1960s. Once a poor farming community, it has boomed during the past 30 years of China's economic reform.

Dubbed a "model socialist village", Huaxi's wealth is based on the collective funds of registered households who have amassed money in industries such as steel and textiles. Most household revenues are reinvested into further projects on a mandatory basis, keeping the cycle going.

200 village households are shareholders in the hotel, each providing 10 million yuan (S$2 million) in capital for the project. "The building is a symbol of collectivism," Zhou Li, deputy Party chief of the village and manager of the Huaxi Village Tourism Co, told China Daily.

But some critics dispute the village's "socialist" labelling, saying it has instead become a symbol of capitalism in the communist state. Huaxi Group, the corporation that manages the village's business, has 2,000 shareholders - all registered residents. Non-residents are not allowed to be shareholders, even if they work there.

Work on the five-star hotel began in 2007 and was completed in less than four years."

Well, need I say more about this 'model village' of developing China?

Lessons learned?

1. the best is YET to come?;
2. meaningful consumption?;
3. sutainable?

Let's check in on this 'model village' in 2021!!