Banks Struggling to Operate, Large Malls Like Ghost Towns, Closure Wave Sweeps China by Year-End

Amid the continued economic downturn in China, characterized by high unemployment rates and sluggish consumer spending, a widespread wave of physical store closures is intensifying across the country. Industries including department stores, supermarkets, convenience stores, restaurants, and shopping centers are all affected. In some areas, nearly 90% of the shops on entire commercial streets have shut down, with even banks unable to sustain operations and are moving out. #chinaeconomy #chinaobserver All rights reserved.