The number of Chinese ghost towns now counts at least eight cities beyond the familiar horror stories – the cities of Ordos and Wenzhou.
In Inner Mongolia is a great city “Ordos” virtually EMPTY! The large Chinese construction boom, who did so much to revive the country’s astonishing economic grow is over. A giant statue of the mighty warrior Genghis Khan presides over Genghis Khan Plaza Ordos New Town. The site is great, fading into the snowy mist on a Sunday morning. Genghis Khan Plaza is flanked by large and impressive buildings. Two gigantic horses from the steppes rise on its hind legs in the center of Plaza – Only one element is missing – people!
This is Ordos, a place that has been called the largest ghost town in China. Most buildings are empty or unfinished.
The story started about 20 years ago, with a large Mongolian coal rush. Local farmers sold their land to miners and were instantly rich. Lots of Jobs and convoys of coal truck.
The old town of Ordos flourished and money poured in – The municipality also decided to think big. The company made plans for a big new city for hundreds of thousands of residents of Genghis Khan Plaza in the center of it. Ten years later, the new city of Ordos totally EMPTY!
And that’s just the most prominent example of a new Chinese phenomenon – unsold apartments, empty shops and empty office buildings. The large Chinese construction boom is over – it is a disaster for the Chinese economy. Ordos Many ordinary people who invested in real estate have lost money. It is only 25 years ago that it was possible for the Chinese people to buy and sell homes.