Competition turns 'ghost cities' prosperous

According to media reports, Erdos, in the Inner Mongolian autonomous region, and some other new cities across the country, such as Chenggong New City in Yunnan province, Zhengdong New City in Zhengzhou, the capital of Henan province, and Jinyang New District in Guiyang, the capital of Guizhou province, which were once called "ghost cities" due to high real estate vacancy rates, are now prosperous cities.

A number of "new cities" were built following the 2008 subprime crisis to expand investment and domestic demand. However, with the gradual tightening of loose financial policies, the sales of residential buildings in these new cities declined drastically, resulting in high vacancy rate for some time.

The considerable rise in the occupancy rate of these new cities is a result of multiple factors, including the country's ever-rising urbanization and local governments' ability to build and improve infrastructure to attract people.