https://www.reuters.com/world/china/chinas-restaurants-race-bottom-deflation-hit-economy-2025-03-21/
Expanding domestic demand is the top priority this year for China's rulers, looking to offset the impact of U.S. tariffs and a protracted property crisis.
But consumer inflation fell in February at the quickest pace since January 2024, setting off concerns about a deflationary spiral.
Last year, An and his team dismantled 200 restaurants each month, or 270% more than the prior year, as the number of dissolved catering companies touched a historic high of almost 3 million nationwide, data from companies registry Qichacha shows.