Bakery Owners Weep! Over 120,000 China’s Bakeries Shut Down and Close In 2023

In the context of a continuously weak economy, low consumer spending, a wave of business closures, and a surge in unemployment, the closure rate of China’s catering and retail industry has been rising. In 2023, more than 120,000 bakeries and pastry shops closed down. At the same time, a batch of 2-yuan bread shops across China are doing exceptionally well. #chinaobserver All rights reserved.