China Economy Sluggish, Din Tai Fung Closes 14 Restaurants in China

Taipei, Taiwan — Michelin-starred Taiwanese dim sum restaurant Din Tai Fung said it is closing more than a dozen of its restaurants in China as the world's second-largest economy slows. Plus, as Chinese consumers tighten their belts, they are opting for cheaper food, said the restaurant, known for its long lines and wide variety of hot dim sum. Din Tai Fung subsidiary Beijing Hengtai Feng Catering Company announced Monday (August 26) that it plans to close all 14 of its restaurants in northern China including one in Xiamen. The brand's parent company in Taipei told VOA that its 18 remaining restaurants in eastern China, run by another Shanghai-based partner, will continue operating normally. “We sincerely apologize for the inconvenience and disappointment this decision has caused to our many loyal Din Tai Fung customers,” the subsidiary said in a statement on Chinese social media app WeChat. The company added that severance payments and employee placements would be handled properly. About 800 employees will be affected by the move, which comes as price competition among restaurants heats up and consumer habits change in China. Since Beijing began easing strict COVID-19 control measures in late 2022, allowing more people to dine out again, …

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China Economy Sluggish, Din Tai Fung Closes 14 Restaurants in China

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