China's property woes and U.S. sanctions have hit some cities hard

Published On Sep 3, 2024, 3:18 AM

China's cities are experiencing a mix of impacts due to property struggles and U.S. sanctions, according to the Milken Institute's ranking of economic vitality. Hangzhou has emerged as a success story, ranking first, largely because of its tech landscape, while other cities like Zhuhai and Dongguan have suffered declines in their rankings due to the downturn in real estate and sanctions, respectively. Despite some cities benefiting from technology and government support, the overall picture shows significant economic challenges, particularly in regions heavily reliant on real estate.