China's Economic Slowdown Hits Small Businesses Hard
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Small business owners in China like Xu Doudou are struggling due to the country's economic slowdown. Xu lost money on her Beijing cafe and had to close it.
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Consumer spending in China has weakened, hurting businesses. Retail sales are expected to rise only 4.9% in September.
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Food and beverage companies are shutting down at a rapid pace, while new registrations only rose slightly.
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The tourism industry was hit hard. Visitor numbers dropped off abruptly after the summer season ended.
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Despite setbacks, some owners like Xu are trying to revamp their business models and find new ways to retain customers.