China’s workers flock to Shenzhen and Hangzhou as talent war heats up
The two tech hubs saw their populations swell in 2024, defying China’s broader demographic decline
China’s technology hubs of Shenzhen and Hangzhou posted strong population growth in 2024, as the cities bucked the country’s broader demographic decline by attracting a wave of migrants.
Local governments across China are beginning to release their population data for 2024, with Shenzhen and the eastern province of Zhejiang – where Hangzhou is located – among the handful of localities to have already published their reports. Beijing, Shanghai, Guangzhou and several other major cities have yet to do so.
As of the end of 2024, Zhejiang had a permanent registered population of 66.7 million, an increase of 430,000 from the previous year, according to its local bureau of statistics. The rise was entirely driven by migration, with deaths outnumbering births in the province by 24,000 last year.
The province’s three largest cities – Hangzhou, Ningbo and Wenzhou – recorded population gains of 102,000, 80,000 and 91,000, respectively, accounting for more than 60 per cent of Zhejiang’s total population growth.
“Zhejiang’s economy is driven by private enterprises, which span a wide range of industries and create favourable conditions for labour absorption,” said Tang Hairu, vice-president of the Zhejiang Urban Science Research Association.
Hangzhou, in particular, has made attracting talent a priority over recent years, rolling out a series of ambitious policies to encourage young professionals and entrepreneurs to move to the city.
These include start-up subsidies, talent incentives and rent reductions, aimed at lowering barriers to employment and foster a youth-friendly urban environment.