Worst of China Slowdown Seen in Wenzhou as Wen Tempers Stimulus

Worst of China Slowdown Seen in Wenzhou as Wen Tempers Stimulus

Qilai Shen/Bloomberg

Property in Wenzhou remains out of reach for thousands like Liu even after home prices slumped 12.3 percent in April, the fastest drop in the country. Apartments still cost an average 30,000 yuan per square meter -- the equivalent of the city’s annual per capita disposable income in 2010, according to the local government website.