Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "China’s Silicon Valley Is Doomed! Beijing’s Malls Are Deserted u0026 Many Shanghai Shops Have Shut Down" video.

  1. 🏢 The Beijing Central Business District and Jungwan Chuin, China's Silicon Valley, are now desolate due to the lingering effects of COVID-19. 00:00 The economic downturn in Beijing Central Business District and Jungwan Chuin is a result of the COVID-19 pandemic. Traditional retail in the area is almost non-existent, with vacant stores and offices. Entrepreneurial cafes have reduced seating and some have transformed into boutique coffee bookstores. 😔 The rental market in Beijing's tech hub is facing challenges with high vacancy rates and plummeting rental rates. 02:33 Average monthly rent for office spaces in Beijing is 316 unen per square meter. Vacancy rate for office buildings in Beijing's tech hub is at a near decade high of 16.9%. Residents have observed a significant decrease in activity and crowdedness in places like Donguan Shenin and Shanghai. 📉 The pandemic initially stimulated e-commerce growth, but the decline in China's economy and consumer spending has led to a significant decline in online sales. 05:24 A woman in the e-commerce industry reports that her online store's traffic and sales have significantly declined since the golden week holiday in early October. A delivery personnel from an online shopping platform confirms that their sales and delivery volumes are even worse than during the pandemic's peak. Large-scale industrial enterprises in China have recorded a decline in profits during the first eight months of the year, with a year-on-year drop of 11.7%. 📉 The skincare and beauty industry in China is still struggling to rebound following the pandemic, with reduced consumer spending and lagging customer influx to beauty studios. 07:51 Skincare and beauty industry in China is facing economic concerns due to reduced consumer spending. Moon cake sales in China have been sluggish, with a decline in orders by 30 to 40% this year. Orders for moon cakes have significantly decreased, putting immense pressure on businesses. 💼 China's consumer spending during the golden week is not providing the expected uplift in revenue, and stability in the real estate sector is crucial for a robust economic resurgence. 10:19 China's consumer spending during the golden week is worth paying attention to, as it has not provided the expected boost in revenue. Stability in the real estate sector is necessary for a robust economic resurgence in China. China's annual CPI growth rate in August was only 0.1%, indicating subdued economic simulation compared to pre-pandemic levels.
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