According to the National Bureau of Statistics of China, in the first quarter of this year, a staggering 460,000 catering enterprises in China were deregistered or had their operations suspended. Among these, 170,000 closures were in January, 110,000 in February, and 180,000 in March, marking a 232.6 percent increase compared to last year. In 2023, about 1.4 million catering-related companies nationwide were deregistered or suspended, reaching a new high since 2020.
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China’s Restaurants Barely Survive: 460,000 Closed in Q1, up 232% Year-On-Year
