In recent times, Shanghai has been experiencing unusual phenomena that have been causing a stir on social media platforms. These peculiar occurrences have become a topic of discussion once again, with six major anomalies capturing attention and circulating online.
The six notable abnormal phenomena in Shanghai are as follows:
Firstly, the majority of physical stores are facing declining business. Many shopping malls have more sales staff than customers, and it is common to see salespersons live streaming to promote products within the stores.
Secondly, many office buildings and office parks in Shanghai are currently in a state of vacancy. Rentals are being offered with incentives such as months of rent-free periods, only requiring tenants to pay property management and utility fees.
Thirdly, the numbers of food delivery riders, couriers, and online ride-hailing drivers are increasing, yet their incomes are decreasing. It has even reached a point where individuals have to wait in line to apply for these jobs.
Fourthly, numerous landlords have disclosed that renting out properties has become challenging, as without actively reducing rental rates, there is little interest from potential tenants.
Fifthly, despite the government injecting liquidity into the market to encourage consumer spending and investment, the majority of citizens are not only reluctant to spend but are also saving money diligently in banks.
Lastly, many business owners are no longer seeking loans to expand their operations; instead, they are engaging in financial maneuvers among various banks. This strategy aims to exchange high-interest loans for lower interest ones in order to reduce costs.
Shanghai used to be the economic center of the country, with one-third of the national income originating from this city, a source of pride for Shanghai residents and the nation as a whole.
Since 2024, numerous individuals on social media have expressed concerns about Shanghai’s diminishing economic strength. The manufacturing industry has been significantly depleted, resulting in mass emigration from Shanghai and a struggling economy. Shanghai has witnessed the emergence of ten strange phenomena that were previously non-existent.
In March of this year, financial writer Duan Yuwen who has resided in Shanghai for over ten years, shared a video on his social media accounts highlighting ten bizarre occurrences in Shanghai this year. However, his account “Rebellious Son Duan” was soon suspended.
The first peculiar observation is the rise of office workers bringing homemade meals. Dining establishments, like a Japanese restaurant near Duan Yuwen’s office, had to shutter its doors due to decreased lunchtime sales, with more people opting to bring meals from home and reheating them in the office microwave.
In the past, discussions about career changes, salary increments, and job transitions were prevalent in various group chats among colleagues and friends, yet this year, there has been a noticeable absence of such conversations. Instead, more individuals are prioritizing job security and avoiding additional engagements.
The real estate market in Shanghai is also experiencing a slowdown, with a significant decrease in the resale of properties. In February, only 6,800 second-hand apartments were sold in Shanghai, with an average transaction price per square meter dropping by 9% compared to the previous month.
Even prominent shopping centers in Shanghai’s city center have faced closure. For instance, the Pacific Department Store in Shanghai’s core commercial district of Xujiahui, in operation for 30 years and known for its high-end offerings, has ceased operations.
Office space rentals are practically being given away in Shanghai. According to a friend in the leasing industry, many office parks are waiving rental fees, requiring only property management and utility payments. Such practices are not exclusive to Shanghai, as Beijing’s commercial office market is experiencing similar circumstances.
Booking a ride has become easier in Shanghai, with the possibility of securing luxury vehicles at affordable rates even during peak hours. This convenience was unfathomable in the past, where reservations and queues were the norm, but now, luxury rides are easily accessible and occasionally at discounted prices.
The speed of food delivery services in Shanghai has remarkably increased. There are two potential reasons for this phenomenon: either a decrease in food orders or an oversupply of delivery personnel, prompting swift deliveries during peak hours.
The influx of loan solicitations has significantly risen compared to previous years. The number of daily loan inquiry calls Duan Yuwen receives has quadrupled since the previous year, now reaching up to eight to nine calls per day.
Conversations about international travel have plummeted, and the presence of foreigners in Shanghai has noticeably dwindled. Shanghai, once bustling with a large expatriate population, especially during its peak, now sees a significant reduction in foreign residents. Two contributing factors are attributed to this decline: the shift to remote work in 2022 and decreased foreign investments leading to expatriate departures.
Shanghai has been an international metropolis since the 1990s, witnessing an increase in foreign professionals and investments. However, the current landscape indicates a stark contrast, with dwindling foreign presence, particularly noticeable among white expatriates, despite a rise in the number of black expatriates.
These numerous anomalies serve as a mirror reflecting the current state of Shanghai’s society.