Why did Baoyuan Shoes Factory move away?

The main reasons for the relocation of Baoyuan Shoes Factory are as follows:

1. The number of workers has dropped sharply: many production lines have to be stopped, including some minor production lines, such as clothing, hat-making, electronics and molds. In addition, the wages of workers are rising year by year, and their foundry enterprises can't bear such treatment, so they moved to Vietnam, a country with relatively low cost.

2. Reduced policy support: Before Baoyuan Shoes Factory leased land, the government reduced a large part of the rent, but after losing policy support, the rent doubled, so Baoyuan Shoes Factory moved away.

I hope the above information will help to answer your question.