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High-end dining faces decline in China’s major cities

High-end dining in China’s major cities, particularly Beijing and Shanghai, is facing a decline as economic recovery remains uneven and competition from affordable eateries intensifies. Consumers are increasingly opting for budget-friendly meals, leading to the closure of several upscale restaurants, including Michelin-starred and trendy venues. Data shows that over 1,400 restaurants with high average spending have shut down, with fine dining now making up just 0.59% of Shanghai’s eateries. In response, many upscale restaurants are adjusting their strategies, introducing sub-brands with lower-priced offerings to attract cost-conscious diners. Supply chain issues, particularly following Japan’s discharge of contaminated wastewater, have also impacted seafood quality, further challenging Japanese and Western restaurants. Some fine dining establishments are now exploring international markets to offset losses at home.

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