Multiple reasons can make you rent commercial real estate in Hangzhou. The capital city of the Zhejiang province is the prime technological, industrial, and digital economy center in the Yangtze River Delta area. Having a solid network of local IT firms, boasting the competitive governmental tax incentives, and lower rental costs for the office space than, e.g., in Shanghai, Hangzhou is an attractive city for investors. By renting commercial real estate in Hangzhou, you place your business in one of the region's most affluent and prosperous areas. The city's GDP provides about 25% of Zhejiang province's economic output. Thus, in 2020, the GDP reached around US$245 billion, making the city occupy the 4th position in the list of locations with the highest GDP in mainland China. In comparison, the Portuguese or the Chezh Republic's economies have approximately the same GDP rates. The per-capita income in the city is high, and so is the purchasing power. With commercial real estate in Hangzhou, your business will be automatically linked to prosperity, as the potential clientele base here boasts many wealthy people. The local digital economy is the major contributor to the budget. Nowadays, growth is observed in the fields such as electronic goods manufacturing, software and IT services, robotics, etc. A significant percentage of commercial real estate in Hangzhou is already occupied by companies and corporations such as Dahua Technology, Uniview, Hikvision, the HQs of global Internet etc. The local authorities support the smart city program. Over a dozen companies are nowadays working on public-private partnerships with the government to create smart service delivery systems in the city. Similarly to the other large megacities of China, Hangzhou boasts a substantial educational and research base and thus, presents itself as a hub with perfect recruitment opportunities.
