Is Hegang, with houses at 30,000 RMB, really that bad?
All things considered, it's not that bad—it mostly depends on the local government's administrative capability. For instance, Hegang's decline can be attributed to its failure to fully leverage its natural resources (coal) in the previous cycle, which prevented the formation of a complete coal industry chain, leading to the industry's collapse and a mass exodus. However, with the new wave of graphite mining driven by the demand for new energy batteries, the city has successfully fostered listed companies and is steadily building out its industrial chain. Today, a city where an apartment costs just 30,000 RMB boasts large shopping malls, an Apple Store, trendy brand outlets, Hegang No.1 High School (once ranked among the top 100 in China), a Class IIIA hospital, noodles for just a few yuan per bowl, and skewers for one or two yuan. It's not truly terrible; the core issue is whether the city can establish a sustainable development strategy before its mineral resources are exhausted.
After fiscal restructuring and hiring freezes for civil servants, this city's economy is now soaring
