Amid China’s persistently sluggish economy, Zhejiang Province, a major production and industrial base in eastern China, is seeing a decline in trade orders as private enterprises struggle to stay afloat, according to industry professionals who spoke with The Epoch Times.
As the “hollowing out” of the private sector economy in mainland China intensifies, profit margins for industrial enterprises in Zhejiang Province have been under pressure since 2024, local industry insiders say.
Zhejiang, a coastal province bordering on the megacity of Shanghai, is an economic powerhouse for China. It ranked fourth nationwide in gross domestic product last year, with its capital city Hangzhou being the primary economic driver along with other well-known commercial cities in the province such as Ningbo and Wenzhou, according to official data….
Private Sector Struggles in Major Chinese Industrial Base as Export Orders Shrink: Local Businessmen
