From CNBC: 2024-09-03 03:18:58

China’s property troubles and U.S. sanctions have impacted cities unevenly, as shown in Milken Institute’s China index. Hangzhou, home to tech giants, ranks first while cities like Zhuhai fall due to real estate woes. Dongguan also dropped due to U.S. sanctions, highlighting economic complexities in Chinese cities.

Real estate crackdowns began in 2020, affecting cities like Zhuhai and Dongguan. Shenzhen rose in the rankings but remains behind Beijing. The blacklisting of Chinese companies by the U.S. has had implications for various Chinese cities, creating a complex economic landscape in the country.

Cities like Zhengzhou, Hefei, and Wuhan have seen shifts in their rankings in the latest index due to various factors. Wuhan’s quick rebound from the pandemic and Hefei’s government support for tech development have helped them perform well. Hangzhou’s success is attributed to its growth as a hub for multiple industries.

While some cities benefited, others struggled due to real estate woes and sanctions. The economic landscape in Chinese cities is complex, with various factors influencing their performance on the Milken Institute’s index. The success of cities like Wuhan and Hangzhou shines a light on the importance of strategic planning and government support in driving growth.

Read more: China’s property woes and U.S. sanctions have hit some cities hard