Amidst economic slump, China’s cemetery industry thrives « Khabarhub
Monday, June 24th, 2024

Amidst economic slump, China’s cemetery industry thrives


06 June 2024  

Time taken to read : 7 Minute


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In the intricate tapestry of Chinese culture, a unique tradition unfolds. It mandates the procurement of a burial plot in a graveyard prior to one’s demise.

Failing this, the financial responsibility falls upon the shoulders of the deceased’s kin, encompassing the spouse, offspring, or other blood relatives.

This obligation extends beyond the mere purchase of land, enveloping the costs associated with the final rites and the rituals that follow.

The economic implications of this practice are profound. Graveyard real estate in China commands a premium, necessitating a significant outlay for those seeking to fulfil these cultural obligations.

This phenomenon is not a recent development. Even in ancient China, acquiring a burial plot was a costly endeavour. However, the past three decades have witnessed an exponential surge in prices.

This escalation can be attributed to a confluence of factors. The burgeoning population and the corresponding increase in wages have fuelled a rapid growth in the demand for cemetery land.

In recent years there have been reports of Sky High Cemetery prices in China, some people in first and second tier cities unable to afford cemetery plots have resorted to buying houses in small cities and placing their relatives, cremation urns in them known as “Bone-Ash Houses”.

Sensing an opportunity in this lucrative market, real estate developers have ventured into the cemetery business, further inflating the prices.

The recent years have added another layer to this complex scenario. The advent of the Covid-19 pandemic and the rise of other infectious diseases have led to an unfortunate increase in the death toll in China.

This, in turn, has spurred the demand for cemetery land, adding to the upward pressure on prices. Thus, the intersection of culture, economy, and public health paints a compelling picture of the dynamics of cemetery land prices in China.

With the economic downturn China’s real estate market continues to deteriorate with property prices plunging endlessly and the Communist party’s land finances struggling to continue.

As a result, City investment companies in many areas have started Investing in cemeteries claiming they are guaranteed to profit foreign observers question whether the Chinese authorities have been concealing the true number of deaths.

According to are port by the mainland economic observer on May 23rd since 2020 City investment companies in counties and cities under the jurisdiction of provinces such as Jiangxi, Hunan and inner Mongolia have invested in Cemetery projects.

An official City investment financing person who had previously operated cemetery projects stated in recent years the trend of local city investment companies investing in or holding cemetery assets has been on the rise.

Compared to other investment projects cemetery projects not only have a small investment scale but also have abundant and stable cash flow crucially City investment companies can also support  cemetery projects through special bonds and other funding channels.

Since the beginning of this year the epidemic has continued to spread Chinese people told new Tang Dynasty TV that sudden death incidents occur frequently hospitals are over crowded but the CCP prohibits hospitals from testing patients fornucleic acid covering up the epidemic with influenza colds mycoplasma and other diseases.

The research report on the potential development of cemetery industry and investment strategy from 2024 to 2030 released by the China Academy of economics and Industry research stated that the domestic death population is stable and rising.

Funeral Service demand continues to increase and the domestic funeral service industry Market continues to expand, growing rapidly from 169.50 billion yuan approximately 24.4 billion US $ in 2015 to 310.10 & 42.8 billion US $ in 2022 with an average annual compound growth rate of 9.02%.

In recent years there have been reports of Sky High Cemetery prices in China, some people in first and second tier cities unable to afford cemetery plots have resorted to buying houses in small cities and placing their relatives, cremation urns in them known as “Bone-Ash Houses”.

Many have criticized this issue saying sucking the last drop of blood when there is no money from the living they start thinking about the money from the dead this is a lucrative means.

It’s crazy, after exhausting the living they are now going after the dead making money from the living and then from the dead.

Some people questioned that if the cemetery market is so good this shows that all places have seen benefits from the latest population death rate data.

The escalating demand, fuelled by population growth, increased wages, and a rising death toll, has attracted real estate developers to this lucrative market.

For several years the number of deaths has been concealed by the CCP during the epidemic.

Since the beginning of this year the epidemic has continued to spread Chinese people told new Tang Dynasty TV that sudden death incidents occur frequently hospitals are over crowded but the CCP prohibits hospitals from testing patients fornucleic acid covering up the epidemic with influenza colds mycoplasma and other diseases.

The CCP Civil Affairs Authorities starting from the fourth quarter of 2022 no longer disclose cremation body data causing wide spread questioning.

On July 17th 2023 the Zhejiang provincial Department of Civil Affairs released cremation data for the first quarter with 171,000 cremated bodies, a year-on-year surge of 72.7%.

After attracting wide spread attention, the Zhejiang provincial Department of Civil Affairs quickly deleted the data.

The Epoc Times reported on January 16th 2023 that Master Le Hongji the founder of Falun DAFA said that for more than 3 years the CCP has been covering up the epidemic and China’s epidemic has killed 400 million people, when this wave of the epidemic ends China will have 500 million deaths.

The intersection of Chinese cultural traditions, economic factors, and public health crises has led to a surge in cemetery land prices.

The escalating demand, fuelled by population growth, increased wages, and a rising death toll, has attracted real estate developers to this lucrative market.

However, the concealment of death rates and the economic downturn have cast a shadow over this trend, raising questions about the sustainability and ethical implications of profiting from the dead.

Publish Date : 06 June 2024 15:25 PM

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