Village in the Sky: China’s Richest Village Now has its Own Skyscraper

Rising up from the flat plains around it like an enormous, triple-hulled rocket and topped with what can only be described as a giant gold golf ball, Huaxi’s 1,076 ft-tall “New Village in the Sky” officially opened on October 8, making Huaxi, about an hour’s drive from Shanghai, the only rural village in the world with its own skyscraper.

But then Huaxi is no ordinary village — it is an extraordinary example of China’s schizophrenic blend of communism and capitalism: a centrally-planned utopia where collectivism has made everyone not just equal, but rich as well.

The village’s 4.5 billion dollars of assets and investments, which include a one-ton solid-gold water buffalo and two shiny new helicopters, are publicly-owned and each year, one-fifth of the village’s post-tax profits are shared out in an annual bonus.

The “richest village in China” emerged in the 1980’s as a symbol of China’s rural economic growth. (Goh Chai Hin/AFP/Getty Images) Continue reading »

China’s Richest Village Building Lavish Skyscraper

A construction worker looks at a golden bull weighing one ton with a worth of 300 million yuan ($46.9 million) in the hall of a skyscraper under construction in Huaxi village, the richest village of China, located in East China’s Jiangsu province. The 328-meter-high 74-storey skyscraper cost more than 1.5 billion yuan and is scheduled to go into operation in October, 2011 to mark the 50th anniversary of the founding of the village. It ranks as the 15th tallest skyscraper in the world and the eighth tallest in China. (CFP) Continue reading »