China’s COVID-19 Restrictions Weakened its Consumer Markets and the Food and Beverage Industry

Started by Epoch-Times-Bot, Oct 06, 2022, 02:00 PM

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Epoch-Times-Bot

Oct 06, 2022, 02:00 PM
China's COVID-19 Restrictions Weakened its Consumer Markets and the Food and Beverage Industry

China’s zero-COVID policy has negatively impacted consumer buying habits and severely weakened the food and beverage industry. Companies like Taiwan’s famous Bafang Dumpling chain hint they may withdraw from the Chinese market and divert their operations to the United States. Although Bafang has yet to confirm this, it has activated its stop-loss mechanism, closed poorly operating stores in China, and opened its first U.S. store in March of this year.
Bafang and Other Restaurant Groups May Exit China
Headquartered in Taiwan, Bafang Dumpling is a potsticker and dumpling specialty store. In its heyday, the company operated over 100 stores in mainland China, which now generate less than one percent of Bafang's total revenues. Taiwan accounts for 81 percent of Bafang's revenues and Hong Kong accounts for 16.9 percent....

Source: China's COVID-19 Restrictions Weakened its Consumer Markets and the Food and Beverage Industry

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