Hefei, China, known for its ultramodern factories and thriving industries like electric vehicles and solar panels, is facing a decline in real estate and its devastating effects on small businesses. The city's success in nurturing technology manufacturers has led to the adoption of the Hefei model by the Chinese government, which involves using government funds to invest in manufacturers and provide attractive loans for new factories. However, the real estate market in Hefei has witnessed a significant drop in sales, leading to financial difficulties for debt-laden developers and a decline in land lease purchases from the government. Read The Rest at :