Beijing’s economic winter is coming/Pekingese: “hasn't seen anything like this in 18 years.”

#Chinadeepdive Hello, this is China Deep Dive. We have all the information you need to know about China at present. Today's topic is: In December 2024, according to the latest statistics released by the National Bureau of Statistics of China, Beijing's total retail sales of consumer goods in November was US$17.47 billion, down 14.1% compared with the same period in 2023. The corresponding figure for Shanghai was US$19.77 billion, down 13.5% year on year. The cumulative decline in total retail sales of consumer goods in the first 11 months of 2024 in the two cities has widened to 2.8% and 3.1%, respectively, both lower than the overall level in China. Your support allows us to produce more high-quality videos. Any illegal reproduction of this content in any form will result in immediate action against the person(s) concerned.