The Chinese Communist Party (CCP) recently announced the “Ten New Measures” to relax the control of the pandemic. However, millions of catering businesses, retail businesses, and department stores are staying closed, reported XinTanRen on December 12.
Beijing’s bustling Qianmen Street and Dashilan have seen few tourists this year, and many time-honored shops have closed their doors.
The Haizhu District of Guangzhou, which has been closed for a long time, is still sparsely populated after being released two days ago. However, many business bosses and workers have returned to their hometowns ahead of schedule.[Video]
“In the past, this short almost 330 feet (300 meter) pedestrian street was full of voices, and busy, but now everyone sees its state.”
American economist David Huang said, “The current domestic consumer industries are hotels, tourism, consumption, services, restaurants, cinemas, shopping malls, a large number of businesses, service industries, and retail industries. They are facing a very big impact, including some major shopping malls, hypermarkets, wholesale stores, and those related to such retail services, including hair cutting and catering, are all basically half-dead.”
Sun Guoxiang is an associate professor at the Department of International Relations and Business Administration at Nanhua University, Taiwan.
Guoxiang said that there are many problems in the economy of mainland China. For example, flexible employees are significantly reduced, and many shops need help to open.
Guoxiang added that even some new supermarkets delayed opening for a long time. Then, when they finally opened, they had to close down shortly after opening, and then closed altogether.”
Suning and Gome, two chain electrical appliance retail giants, recently declared bankruptcy.
Yonghui Superstores also closed many stores.
Many coffee shops, hot pot restaurants, and fast food restaurants have closed their doors due to the pandemic. Physical stores are also facing the coming winter.
David Huang: “Service industries have most employees in China, so if they remain closed it will affect social stability.”