China’s Next Potential Boom Spot: The Places People Overlook

Delivery personnel for JD.com, a Chinese e-commerce company, sorting packages in Liangduo in eastern China. Online shopping has expanded into less developed parts of the country as incomes have risen. Credit Photographs by Yuyang Liu for The New York Times
Delivery personnel for JD.com, a Chinese e-commerce company, sorting packages in Liangduo in eastern China. Online shopping has expanded into less developed parts of the country as incomes have risen. Credit Photographs by Yuyang Liu for The New York Times
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China’s Next Potential Boom Spot: The Places People Overlook

Delivery personnel for JD.com, a Chinese e-commerce company, sorting packages in Liangduo in eastern China. Online shopping has expanded into less developed parts of the country as incomes have risen. Credit Photographs by Yuyang Liu for The New York Times
Delivery personnel for JD.com, a Chinese e-commerce company, sorting packages in Liangduo in eastern China. Online shopping has expanded into less developed parts of the country as incomes have risen. Credit Photographs by Yuyang Liu for The New York Times

One crisp October morning, Han Youjun got into his silver delivery van and left this small town in eastern China. Within minutes, his van brimming with boxes of every size and shape, he was rumbling through rice paddies, down narrow village lanes and past modest farmhouses, deeper and deeper into China’s vast hinterland.

In the past, delivery drivers like Mr. Han would have had little reason to travel so far. China’s boom over the past four decades made its crowded metropolises wealthy. Much of the rest of the country, especially farming communities like those surrounding Liangduo, in the eastern province of Jiangsu, remained relatively poor.

But more and more, the benefits of China’s economic miracle are penetrating into smaller cities and countryside hamlets — as Mr. Han, a 32-year-old deliveryman for JD.com, an online retailer, knows all too well. The 70 packages crammed into his van that day were double the amount he usually hauled only 18 months earlier.

“The workdays have been getting longer,” he said.

China needs spenders in those places. The government is trying to shift the country’s growth engine away from its traditional dependence on factories and building things. Those old growth sources are no longer dependableand require more and more costly debt.

Thanks to China’s digital revolution, advances in farming and billions of dollars spent on thousands of miles of new highways and railways, Chinese people away from the biggest cities are responding. Many of China’s more remote areas are catching up to rich metropolises and connecting to the broader economy in ways they had not before, with potential long-term benefits for the Chinese economy and the world.

In the prefecture that contains Liangduo, Yancheng, locals’ wallets are fattening more quickly than the national rate, and their household spending — which surged 8 percent per person in 2016 — outpaced the rises in Beijing and Shanghai.

Signs of that new prosperity can be seen at Auto City, a jumble of ramshackle, boxy buildings in Yancheng where Toyota, Ford and just about every other major brand compete for customers. Zhou Zhengguo, owner of a dealership for the Chinese automaker Geely, expects to sell 2,000 cars this year, four times more than just two years ago.

“Most people who bought cars were private businessmen,” Mr. Zhou said. “Now working-class people buy, too.”

Those who live in China’s less developed places could be crucial to the next stage of China’s development.

Robin Xing, an economist at Morgan Stanley, believes consumer spending in places like Yancheng’s urban center will continue to outperform bigger cities. As a result, two-thirds of all additional private consumption growth will come from these less developed areas through 2030.

“We do expect them to catch up, to narrow the income gap with the large cities,” Mr. Xing said.

Businesses are looking at such areas in a new light. New highways and high-speed railways make relocating factories and other operations into smaller cities easier, allowing companies to take advantage of their lower costs. Industrial output in Yancheng expanded more quickly than the national rate last year.

The gains are not limited to the hinterland’s main towns. Farms are becoming bigger, more efficient and more lucrative.

In Xinling, a nearby village, Luo Jianhai, 37, is typical of a new breed of farmer-entrepreneur. He has steadily expanded the farm where he tills rice and wheat by renting land from his neighbors. He also invested in two new tractors, which he lends out to other farmers who need them to work their own larger plots. Over the past three years his annual income has increased seven times, to $100,000, and his spending has quadrupled, mainly on higher-quality clothing for his three children and a new, $17,000 car from a General Motors joint venture.

His improved lifestyle, Mr. Luo said, “is the difference between being poor and having money.”

Nearby, Cheng Zhiguo, 47, also enlarged his farm this year, increasing his net income to about $23,000 — five times greater than just three years ago. His reward: his first car, a Hyundai, bought in August.

Such change is luring urban entrepreneurs such as Zhou Jian. Mr. Zhou, a 33-year-old resident of Nanjing, a major city in eastern China, figured that large-scale farming would also need more money. In 2013, he founded Nongfenqi E-Commerce Company, which helps arrange loans for farming families from banks and other lenders.

Nongfenqi has since arranged about $150 million in loans, opened more than 100 offices spread around rural China and hired 800 employees. “The upgrading of the market allows businesses like us to serve these big farmers,” Mr. Zhou said.

Such opportunity has attracted JD.com. Over the past three years, JD.com has more than doubled its army of deliverymen, many aimed at reaching into rural towns and villages.

“Building a rural logistics network is one of our most important strategies,” said Wang Hui, JD.com’s head of delivery services. “With consumption developing in rural areas, we hope we can catch this opportunity to expand our business.”

That chilly morning in Liangduo, where the delivery station opened last year, a giant JD.com truck squeezed down a cluttered central street to disgorge hundreds of packages, which were sorted and carried to customers by nine full-time delivery personnel. The station is intended to help introduce residents to how e-commerce works. Next door, a merchant transformed his appliance shop into a JD.com outlet, where farmers, often unfamiliar with e-commerce, can test products available online and place orders.

It’s an “online-to-offline” experiment to educate these new consumers in online shopping. The delivery station “is not just a logistics center,” said the JD.com manager in Liangduo, Ye Huanglong. “Anyone can come in and ask questions.”

Not all rural regions are advancing as quickly as Liangduo. Hu Bingchuan, deputy researcher at the Rural Development Institute of the Chinese Academy of Social Sciences in Beijing, fears companies may discover, at least for now, that their profits from countryside customers do not match their efforts to chase them.

“Most rural areas are not that successful yet,” he said. “E-commerce platforms won’t be able to copy their success in cities to rural regions.”

The future, though, holds promise. One of Mr. Han’s first stops is at the home of Han Aifeng, a farmer. She ordered cartons of milk, which, she said, make for a convenient refreshment when tending her fish-farming ponds.

The milk is among China’s most expensive brands, but Ms. Han, 64, can now afford it. Her husband works at a furniture factory, while she has increased the family income by raising crayfish and selling them in the local marketplace.

In all, the household’s annual income doubled in the past two years, to about $30,000, and Ms. Han’s spending on food and other goods has increased as well, much of it ordered online, using her smartphone. Discarded delivery boxes for pomelo, rice wine and yogurt are stacked on top of old rice hulls in a corner of her home’s courtyard.

“I used to have to ride an electric bike to the market when I needed to go shopping,” Ms. Han said. “Now people bring everything to my door.”

The New York Times



Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
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Egypt Plans $1 Billion Red Sea Marina, Hotel Development

This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)
This picture shows a partial view of Egypt's Red Sea city of Sharm el-Sheikh, October 7, 2025. (AFP)

Egypt announced plans on Monday for a new $1 billion marina, hotel and housing development on the Red Sea in a bid to boost the region's tourist industry.

Construction on the "Monte Galala Towers and Marina" project would ‌start in ‌the second ‌half ⁠of the ‌year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.

The 10-tower development - a partnership with the ⁠housing ministry and other state bodies ‌including the armed ‍forces' engineering authority - ‍would cost about 50 ‍billion Egyptian pounds ($1.07 billion), he added.

The project, also announced by the cabinet, will cover 470,000 square meters on the Gulf of Suez, about ⁠35 km south of Ain Sokhna, Shalaby said.

Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.


Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
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Saudi-Polish Investment Forum Explores Prospects for Economic and Investment Cooperation

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA
The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation - SPA

The Saudi-Polish Investment Forum was held today at the headquarters of the Federation of Saudi Chambers in Riyadh, with the participation of Minister of Investment Khalid Al-Falih, Minister of Finance of the Republic of Poland Andrzej Domański, and Vice President of the Federation of Saudi Chambers Emad Al-Fakhri.

The forum brought together government officials, business leaders, and investors from both countries with the aim of enhancing economic cooperation, expanding investment partnerships in priority sectors, and exploring high-quality investment opportunities that support sustainable growth in Saudi Arabia and Poland.

During a dedicated session, the forum reviewed economic and investment prospects in both countries through presentations highlighting promising opportunities, investment enablers, and supportive legislative environments.

Several specialized roundtables addressed strategic themes, including the development of the digital economy, with a focus on information and communication technologies (ICT), financial technologies (fintech), and artificial intelligence-driven innovation, SPA reported.

Discussions also covered the development of agricultural value chains from production to market access through advanced technologies, food processing, and agricultural machinery. In addition, participants examined ways to enhance the construction sector by developing systems and materials, improving execution efficiency, and accelerating delivery timelines. Energy security issues and the role of industrial sectors in supporting economic transformation and sustainability were also discussed.

The forum witnessed the announcement of two major investment agreements. The first aims to establish a framework for joint cooperation in supporting investment, exchanging information and expertise, and organizing joint business events to strengthen institutional partnerships.

The second agreement focuses on supporting reciprocal investments through the development of financing and insurance tools and the stimulation of joint ventures to boost investment flows.

The forum concluded by emphasizing the importance of continued coordination and dialogue between the public and private sectors in both countries to deepen Saudi-Polish economic relations and advance shared interests.


Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Gold Rises as Dollar Slips, Focus Turns to US Jobs Data

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices rose on Monday, buoyed by a softer dollar as investors braced for a week packed with US economic data that could offer more clues on the US Federal Reserve's monetary policy.

Spot gold rose 1.2% to $5,018.56 per ounce by 9:30 a.m. ET (1430 GMT), extending a 4% rally from Friday.

US gold futures for April delivery also gained 1.3% to $5,042.20 per ounce.

The US dollar fell 0.8% to a more than one-week low, making greenback-priced bullion cheaper for overseas buyers.

"The big mover today (in gold prices) is the US dollar," said Bart Melek, global head of commodity strategy at TD Securities, adding that expectations are growing for weak economic data, particularly on the labor front, Reuters reported.

Investors are closely watching this week's release of US nonfarm payrolls, consumer prices and initial jobless claims for fresh signals on monetary policy, with markets already pricing in at least two rate cuts of 25 basis points in 2026.

US nonfarm payrolls are expected to have risen by 70,000 in January, according to a Reuters poll.

Lower interest rates tend to support gold by reducing the opportunity cost of holding the non-yielding asset.

Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

"The debasement trade continues, with ongoing geopolitical risks driving people into gold," Melek said, adding that China's purchases have had a psychological impact on the market.

Spot silver climbed 2.9% to $80.22 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

Spot platinum was down 0.2% at $2,092.95 per ounce, while palladium was steady at $1,707.25.

"A slowdown in EV sales hasn't really materialized despite all the policy softening, so I do see that platinum and palladium will possibly slow down," after a bullish run in 2025, WisdomTree commodities strategist Nitesh Shah said.