Watching orders dwindle as China’s housing market slumped, factory owner Zheng Weirong decided to take action and protect his steel business from the real estate downturn.
Betting on a tourism revival, he wound down a production line making metal bars in 2021 and shifted investment to producing container-sized cabins, often used as guest houses. The pivot paid off, with demand exploding last year after Chinese travel rebounded following the lifting of pandemic restrictions.
With 50 full-time employees, he’s aiming to increase revenue by 30% this year to around 130 million yuan ($18 million) — an ambitious target amid a slowing economy and faltering consumer spending.
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