中國經濟

China’s richest county suffers export slump as US tension hits factories

Taiwanese manufacturers in Kunshan are cutting staff and wages and pushing orders abroad over geopolitical risk

Workers in one of China’s busiest export hubs are struggling to get jobs as the global economic outlook weakens and tensions with the US push manufacturers to relocate factories outside China.

The county of Kunshan, 50km from Shanghai in China’s Jiangsu province, used to boast wages up to 30 per cent higher than in less-developed interior provinces, thanks to the thousands of contract manufacturers that assembled critical components there.

With almost 1mn people, Kunshan has 1,529 export-focused manufacturers from Taiwan alone and is known as China’s richest county.

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