Earlier quoted context omitted.
Are you kidding? Guess why most those recently emerged Chinese high tech companies (DeepSeek, Game Science, Unitree etc) are all located in Hangzhou? Because property prices are insane in tier-1 Chinese cities like Shanghai which is just 200km away from Hangzhou. You know it is a huge ponzi scheme when even those well paid high tech engineers couldn't afford a modest apartment in those major cities. $3m USD buys you…
TIL hangzhou/new tier1 is a "modest" city. It's a sick world class city. Yeah, PRC RE in T1/2 cities stupid expensive, but highly compensated PRC talent always have option to rent for dirt cheap in T1 and buy something nice in T2/T3 city with a few years wage. Many highly paid Hangzhou tech workers renting in nice districts while buying equally nice in less expensive cities close by, i.e. renting nice condos in Binji…
Hangzhou is horrible place to live, if you check the PM2.5 of Jan and Feb 2025, a total of 5 days had PM2.5 readings below 75. That causes China to have the highest rate of lung cancer in the entire world. Interestingly, this is suddenly not even considered as "QoL".
Your entire argument that people on wages 10x to 20x times of the local average are still being priced out of the city should just buy into places further 400km out is the exact proof that there is no QoL whatsoever. Why should any "AI leader" be forced to buy in a city 400km away from his workplace if the whole propaganda is about QoL.