China’s Silicon Valley Is Doomed! Beijing’s Malls Are Deserted & Many Shanghai Shops Have Shut Down
Автор: China Observer
Загружено: 2023-10-16
Просмотров: 78574
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In September, a Beijing local filmed the vacant streets and malls of Zhongguancun, China’s "Silicon Valley.” The once jam-packed Sci-Tech mall is now predominantly occupied by wholesalers with a sprinkling of individual retailers. Businesses that remain either serve online consumers or cater to larger clients; traditional retail seems almost non-existent.
Zhongguancun, a hub for tech industries and startups, earned its reputation as China's epicenter for innovation. However, after facing the brunt of a three-year pandemic and economic setbacks, numerous companies in Zhongguancun have shut their doors. Now the vacant offices and stores make the entire area look eerily quiet.
#beijing #shanghai #chinaobserver
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