Foreign Investors Vanish Overnight — Hangzhou Turns Into a Ghost City

#Chinadeepdive Hello, this is China Deep Dive. We have all the information you need to know about China at present. Today's topic is: Among China's major cities, Hangzhou, Zhejiang, is one of the cities with a relatively high concentration of Taiwanese businesses. Many Taiwanese chose to settle in Hangzhou in the early years largely due to its cost advantages—low wages, cheap land, and a complete supply chain. With enough effort, there was indeed a chance to make money. However, in the past two years, an increasing number of Taiwanese businesses have quietly withdrawn, leading to a wave of shop closures. Owners of machinery parts factories moved to Vietnam, exporters moved to Thailand, and some simply closed their companies and returned to Taiwan. Meanwhile, with the continued economic downturn in China, Hangzhou is also experiencing difficulties in finding employment for young people and migrant workers. Once bustling commercial districts have seen a significant decrease in foot traffic, and some streets are even showing signs of desolation and quiet. Your support allows us to produce more high-quality videos. Any illegal reproduction of this content in any form will result in immediate action against the person(s) concerned.