What price zero-Covid? Chinese researchers are treading on sensitive ground
CNN
Authorities in Shanghai have denied a report by a leading Chinese real estate research firm that claimed more than a third of shops in a major mall had been shuttered because of strict Covid curbs.
The report by China Real Estate Information Corp. (CRIC), published late last month, quickly went viral. It claimed that vacancy rates in the city's malls were surging to an alarming level because of the restrictions and said 34% of shops were closed in a landmark mall in Shanghai's Lujiazui financial district.
On average, 9% of shops in Shanghai's 20 major malls have been closed since the Covid situation worsened in the second quarter, significantly higher than the 5% level at which the malls' overall operations would be affected, according to the research firm.
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