This first tier city in China is finished! Desolate scene, the unemployed youth sleep on the streets

China's economy continues to decline severely, and the unemployment rate remains high. In first-tier cities such as Guangzhou and Shenzhen, the scene is desolate, gloomy, and sad, no longer showing the vitality of some of China's most magnificent cities. A large number of young people who are unemployed or without regular jobs are forced to sleep under bridges and struggle to survive because they have no money to pay rent. Videos show that a large number of unemployed young people are living under bridge tunnels in Guangdong. They have no fixed jobs and no money to pay rent. Sometimes they also live stream, dreaming that one day they can live a prosperous life. But most of the time, they can only survive by picking up rags. Under the square of Longhua bus station in Shenzhen, a large number of unemployed young people gather there every day and sleep in the open air. If outsiders come to take pictures, they are driven away or even beaten. In a park in Guangdong, several unemployed young people live in the park and sleep on park benches. However, several police officers drove them away and refused to allow them to live there. The young people's clothes are still hanging on the trees in the park. In Huizhou, Guangdong, a 20-year-old man who couldn't find a job spent the night sitting on an overpass. Some kind-hearted passersby offered him a room to sleep in, but he refused. A netizen photographed a group of delivery boys sleeping on the streets at 6 o'clock in the morning under a bridge in Guangzhou. Some of them were sleeping on the ground, and some were setting up tents. It made people lament their hard life in big cities. One netizen said that she and her husband have been working in Shenzhen for 24 years. They got married and had children there. Recently, they both lost their jobs. Many relatives and friends persuaded them to go back to their hometown. She said in a video, we don't even have a place to stay when we go back now because the house in our hometown has been uninhabited for many years, and there is no room for us to live there. You want to farm, but there is no land to farm. You want to do business, but there is no capital. Another netizen said that she has been working in Shenzhen for nearly 10 years but still has nothing, no car, no house. She said in a video, I have been unemployed for six months. I will be 30 years old next month. Now I have no savings, no car, and no house. I came to Shenzhen in 2014. I was young and found a relatively easy clerical job, and then I worked until October last year. During this period, I changed companies, but I was always doing clerical work until I lost my job last year and couldn't find another one. It has been six months since October 9th last year, so for a girl like me who has no education and no skills, where is the way out? In Dongguan, Guangdong, where China's processing industry is well-developed due to a serious lack of orders and insufficient working hours, many companies no longer recruit formal employees but instead use temporary workers so that they do not have to pay five insurances and one fund for employees. The salary is even as low as 9 yuan per hour, while the minimum wage stipulated by Guangdong, Zhejiang, Jiangsu, and other provinces is 22 yuan per hour. A video circulating online shows a group of young people from Guizhou queuing up for a job in Dongguan. An agent shouted to the people in line, 9 yuan an hour, and the onlookers looked at him sideways. 9 yuan? 9 yuan an hour. If you can't accept it, take your luggage and leave. Jingjing, 29, has been unemployed for six months. She posted a video on Douyin saying that she felt like her life was over. She said in the video, My life seems to be over. I have been unemployed for six months, and I seem to have lost myself. My body is becoming weaker and weaker. I just want to lie in bed and play with my phone or games every day. I have no interest in anything, and I am becoming less and less willing to go out. I don't know when the girl who loved to laugh and dress up disappeared. Now there is no light in my eyes. I haven't opened the cosmetics on this table for a long time. I don't know when I last put on makeup. The closet is full of beautiful clothes, but I don't seem to have the opportunity to wear them out. I am becoming more and more confused, anxious, and panicked. I don't know where my life should go. Last year, a college graduate in Hunan posted a video crying because she couldn't find a job after interviewing at more than 50 companies. She also mentioned that although her best friend found a job in Beijing, she was not working but playing with her life. She said in the video, I have interviewed at more than 50 companies since graduation. Some companies don't even pay any salary during the internship period, and you can't even be converted to a regular employee. My college best friend joined a famous film and television company in Beijing with a salary of 7,500 yuan. You may think that for a freshly graduated student, it is enough. But she rented a small house in Beijing that was only a dozen square meters, and the rent was more than 2,000 yuan. Dongguan is in decline. Shops are closing down in rows, and internal competition is serious. Dongguan is an important prefecture-level city in Guangdong province and plays a key role in the economy of both Guangdong and China. However, as China's economy continues to weaken, internal competition in Dongguan has become so intense that technicians lament how difficult it is to make money. Chang'an town in Dongguan, once filled with factories, now sees rows of shops closing down, and merchants are struggling. Inside and outside the industrial park in Gaobu town, Dongguan, people are rarely seen. Chongqing technicians, Guangdong is too competitive, and they can't stay in Dongguan for a week. Dongguan is a world-renowned manufacturing center, especially famous for industries like electronics, footwear, and furniture. It was once called the world's factory, attracting significant foreign and domestic investment. But how is Dongguan today? Blogger Xiaoxin from Chongqing said on October 23rd that he and his wife came to Dongguan a week ago, but within that week, he realized they couldn't stay in Guangdong anymore. They packed their luggage that day and returned to Chongqing at night. He said, the biggest feeling I had when I came to Guangdong this time was that it was too hard to make money. I visited Dongguan and found it was extremely difficult and competitive. I found that not only were we facing technical competition, but many processing companies were not making any profit, and other industries were also fiercely competitive. This morning, 23rd, when I went out for breakfast, I saw a roadside barber shop charging only 10 yuan RMB for a haircut. The owner had to pay rent and labor. How could they make any money? He sighed. After all the twists and turns, I was the one who suffered the most, and nobody made any money. Businesses in important towns in Dongguan have been ruined. Guangdong Dongguan blogger Jun Bao filmed a video in Chang'an Town, one of the most important towns in Dongguan, to document its current decline. He said the shops in Chang'an Town were once very popular and in high demand. There were factories everywhere, at least hundreds, and rental housing nearby. Chang'an Town's GDP used to rank first in Dongguan City, and its geographical location was relatively advantageous. However, now look at the shops in Chang'an Town. Rows and rows of shops have closed down. Almost all the clothing shops have shut their doors. There used to be a big stage in the town that was lively every night, with people dancing. Now it's so desolate, it's become a parking lot. It's so hard to do business now. There used to be a row of milk tea shops in the town, and every weekend there was a large flow of people. Over the past two years, businesses have been ruined. The shops are all closed, and no one cares. Dongguan is really in a pitiful state. Jun Bao said that only a few shops are still open, and it's estimated that the rent, water, and electricity bills aren't even covered for a day. They're definitely losing money every day. He visited a street in Chang'an Town, capturing many people with his camera. He said, They're all unemployed, just sitting and playing with their mobile phones. The shops on the street are deserted, and no one is going in to shop. It's really miserable. All fast food restaurants in Dongguan can't hold on. The blogger Sanpao Life Record, who works in Dongguan, recently said that all fast food restaurants in Dongguan have closed down. He said, Fast food restaurants are basically all closed down. Some shut down after just three or four months. The current situation shows that no one goes to fast food restaurants at all. The main reason is that the food is unhygienic, and our health is important. So fast food restaurants are basically struggling to survive. All fast food restaurants in Dongguan have closed down. Workers. There are basically no people in the industrial park. Dongguan blogger Lao Chen said that he worked as a temporary worker in a factory in Gaobu Town, Dongguan, for a period of time last year. This year, there are fewer workers in the factory, and there are basically no people. Both inside and outside the industrial park in Gaobu Town, it's deserted. He said that last year, many people were still going to and from work in the industrial park, and there were also many eating supper. There used to be densely packed stalls outside the industrial park. Now, only two or three people set up stalls, and there is no business. Everywhere is empty. And the streets outside the industrial park are dark, with no one to be seen. Dongguan, China known as the world's factory, has seen an increasingly depressed economy, with many factories and shops closing down. One boss pessimistically said that the factory is like a patient with leukemia or cancer, and as a boss, he can only endure the hardship. Mr. Wang, who runs a supermarket in Dongguan, told NTD that business is very bad now, with losses every day. The store's operating income is 70% less than in 2007 and 2008, and many shops on the street have closed down. Mr. Wang said, Now people have no money. Where can they spend money? They just have to endure they can't afford to starve to death. There must be a lot of closures. The store opposite me and across the street has been open for more than 10 years, and it has also closed down. Mr. Wang said that life is very difficult now. Many factories in Dongguan can't receive as many orders, and they have closed down or reduced their scale, replacing large factories with small ones. Mr. Wang said, Now many bosses, small bosses, some of them have opened a shop with dozens of employees, are struggling. Just like leukemia and cancer, they are struggling. I tell you, many factories and many bosses can't even pay for goods. It's over. It's over. I'm very pessimistic now. Mr. Wang said that Dongguan is very famous in the country and is the world's factory. If Dongguan is not doing well, think about it. Is there any better place in the country than it? Dongguan's economy is depressed. Bosses are losing money, and workers are not having a good time. Mr. Gao from Hunan works in a mobile phone factory in Dongguan. He told reporters that it was difficult for factories to recruit people before, but now they generally don't recruit. Students who have just graduated from school and have no work experience are generally not wanted. Mr. Gao from Hunan said, We have experienced people here, and we have old employees here. Generally, we don't recruit many people now. Mr. Gao said that many people who come to Dongguan can't find jobs, so they sleep in the square, and sometimes they are driven away by urban management personnel. Mr. Gao from Hunan said, Whether you can find a job here or not, you will come out. You come out and do some odd jobs. Otherwise, you can't make money at home. If you grow some farmland at home, you can't make any money at all. Most of the 8 million people living in the city come from different provinces. Like many others, Ms. Yu, a factory worker, came here to start a career, but now she is thinking about returning to her hometown in Chongqing after 20 years away. This is the worst time ever. She has seen factory profits triple. The 2008 financial crisis only had a mild impact. But with the current severe economic recession, the factory has been seriously damaged. Ms. Yu works for a factory that processes clothes for Western brands. A year ago, the housing area for workers had more than 2,000 people. But now there are only about 100 left because the factory moved most of its production to other, cheaper, countries in Southeast Asia. Ms. Yu did not want to reveal her identity to avoid causing trouble with local authorities. She said city officials told them to stay calm and keep quiet. The factory also added security forces to monitor them and prevent any unrest. The boss ran away after burning through 6.2 billion yuan. The company was dissolved on the spot, leaving 800 people unemployed. Recently, the wave of business collapses and bankruptcies in China is increasing rapidly. The fact that companies and businesses declare dissolution in just one day has become common and is no longer strange in the context of a serious economic downturn in mainland China. Shanghai Jimu Galaxy Digital Technology Company is an example. The employees were still working in the morning, and the company announced its dissolution on the spot in the afternoon. Still at work in the morning, but the boss ran away in the afternoon? Recently, many employees broke the news on social platforms that Shanghai Jimu Galaxy Digital Technology Company, LTD, hereinafter referred to as Jimu Technology, burned through 6.2 billion yuan in a year, suddenly disbanded. The boss fled, leaving more than 800 employees owed salaries. The boss of the company is also the founder of the online lending platform China Capital Union and has won awards such as Top 10 Honest Figures in the Internet Financial Industry and China Economic Figure. According to mainland media reports, a police receipt has been rapidly spread on social media recently. The report is to find Chen Kun, the boss of Shanghai Jimu Future Park. Subsequently, many internal employees of the company said on the 29th that they received a notice of boss ran away, company bankruptcy, on May 27. The company owed employees several months of wages. Currently, more than 800 employees are in collective labor arbitration to protect their rights. Public information shows that Jimu Technology was established in February 2023 and is headquartered in Shanghai. It has more than 10 subsidiaries and holding companies and has established branches or offices in more than 40 cities around the world, with more than 1,000 employees. As a well-known company with entrepreneurship incubation as its business model, Jimu Technology completed investment layouts in 12 different industries, including Metaverse, AGIC, cloud computing and PETS in 2023. But what was unexpected was that such an influential company in China suddenly disbanded recently and the boss ran away. When the company employees called the police to find the boss at the villa, there was only an A4 printing paper and a hard drive with the words. The boss could not repay the investors a total of 6.2 billion yuan and could only choose to escape in the end. According to the online alarm receipt, the alarm time was May 27, and the alarm content showed that Chen Kun, the boss of Jimu Future Park, lost contact on May 24 and his whereabouts were unknown. An employee revealed that the incident can be traced back to May 27. After a meeting that afternoon, several department heads told their employees that the group's investors had run away, and now the group has no money and cannot pay wages, so they don't need to come to work tomorrow or the day after tomorrow. The employee also broke the news that the company has been in arrears of wages. According to the previous agreement, the company should pay the previous month's salary on the 10th of each month, but Jimu Technology has been overdue for salary payment this year and would only pay the salary at the end of each month. Since May 10 this year, payable April salary, the company has not paid salaries, and it is currently estimated that it will owe salaries for two months, April and May. The employee also said that Jimu Technology's departments in Shanghai are mainly engaged in technology, pets, and wealth sectors. At present, most employees are preparing to go to labor arbitration to seek justice. The boss who was rumored to have run away this time is the company's founder, Chen Kun. It is currently reported that he was arrested or fled the country, but the exact news has yet to be confirmed.