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Gaming entrepreneurs are flocking to set up shop in Chengdu, as younger Chinese people flee the stresses of urban life.
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As urban elites in Shanghai and Beijing totter under intense peer competition, rising living costs, and new regulatory hurdles for business, China’s gaming entrepreneurs are turning to Chengdu’s vibrant yet laid-back culture to stake out a new home.
Many Chinese in the gaming sector moved from Shanghai to Chengdu last year due to increasing financial strain and Beijing’s regulatory crackdowns, according to Caijing, a Chinese investigative reporting outlet.
A lot happens in China’s economy when you’re sleeping. Luckily there’s ChinaEdge – a free newsletter you can read in less than 2 minutes, delivered at 9am ET daily.
The context: The capital of Sichuan Province has become a sanctuary for Chinese millennials and Gen Zers fleeing the social, psychological, and legal pressures of the coasts. The city’s population is growing steadily at roughly 2% annually while many other cities have seen a growth plateau.
The takeaway: The relatively more liberal and progressive city is becoming an innovative testing ground for a number of industries, including education, public infrastructure, and now hi-tech. With relatively low living costs and an influx of skilled workers from the coasts, Chengdu is an anomaly in a country beset by bloated real estate prices and demographic woes.
is SupChina’s Business & Technology staff writer. His work has been published in The Washington Post, The Atlantic, Foreign Affairs, Nikkei Asia, and The LA Review of Books. You can follow him on Twitter at @changxche. Read more
Max Baucus
Former U.S. Ambassador to China
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