China’s Silicon Valley talent departing expensive Shenzhen
Hi-tech firms are increasingly moving away from China's Silicon Valley, Shenzhen, to cheaper locations as the country's housing affordability crisis worsens. Tech heavyweights like Huawei already left Shenzhen, which saw rental housing prices rise by 46.2% in some districts last year; the world's fastest-rising house prices. The cost of housing is creating a barrier to recruitment for companies, and keeping wages in line with living costs is chewing through revenues. A January survey of 2,000 residents reportedly showed that 35% were planning to move to Guangzhou and Dongguan is also proving popular for companies fleeing Shenzhen's real estate.

Home prices in Shenzhen surged almost 50 per cent last year and are now more than double those in provincial capital