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Shanghai’s small businesses and their staff scramble to minimise losses as Covid-19 lockdown delivers huge blow to revenues
- Businesses in the Chinese commercial hub are facing a serious hit to their income as the two-stage lockdown forced shops to close for four days
- Things are even worse for their employees, many of whose salaries depend on customer footfall
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Shanghai’s small businesses are scrambling to maintain daily operations and minimise losses, as the city endures a strict lockdown to combat its worst outbreak of Covid-19 so far.
Businesses in the Chinese commercial hub are facing a serious hit to their income as the two-stage lockdown forced shops to close for four days after customer numbers had already slumped since the outbreak began in early March.
Although the Shanghai municipal government said on Tuesday it is offering 140 billion yuan (US$22 billion) in incentives, rebates and exemptions to help businesses survive the phased lockdown, it has so far had little impact on the ground.
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Around Jing’an Temple, the downtown area which houses some of the city’s best-known shopping malls, shops selling flowers, clothing and luxury brands are largely open. But there were no customers inside, just clerks.
People walked quickly past, on their way to or from supermarkets nearby, loading up on food and daily supplies.
02:51
Shanghai imposes phased lockdowns as daily Covid infection numbers surge beyond 3,000
Shanghai imposes phased lockdowns as daily Covid infection numbers surge beyond 3,000
Bary Liu, who owns a small coffee shop and bistro in the district, said there has been a stark decline in the number of customers since the latest wave of infections began.
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