China’s richest village opens skyscraper hotel

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One of China’s tallest buildings has opened for business in the nation’s ‘wealthiest village’ of Huaxi, a symbol of the country’s breakneck economic growth.

The Longxi International Hotel is 328 metres (1,082-feet) high and cost $470 million to build, an official in Huaxi told AFP.

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.

Huaxi, however, 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 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.

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