Over 70% Of Chinese Retail Chains Are Suffering Huge Losses, With More Than 500 Stores Closing Down

In the blistering heat of July, China’s chain retailers has been hit by a cold snap. One after another, listed companies have revealed their financial conditions for the first half of this year, showing a decline in revenue and frequent occurrences of “Net losses prior to extraordinary items.“ Many chain retailer brands have had to invite state-owned asset companies to buy shares, and the Chinese government is also willing to take on these hot potatoes, preparing for a complete lockdown management of China in the future. #chinaretailchain #chinaeconomy #chinaobserver All rights reserved.