China’s fine dining scene darkens as economic clouds blot out Michelin stars

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China’s fine dining scene darkens as economic clouds blot out Michelin stars - SCMP

Quick Summary:

The fine dining industry in China, once a roaring exemplar of the country’s economic might, is seeing leaner times as customers watch their expenses and put discretionary spending on hold.

Ma Shen, deputy general manager of a new energy equipment company headquartered in Guangzhou, also confirmed a dwindling demand for business feasts.“Last year, our company spent more than one million yuan (US$138,121) on banquets, including drinks,” he said.“Usually, we would choose a banquet package that costs about 500 yuan per person, not counting drinks.

A widespread spending and income downgrade of this nature is not something that can be reversed quickly, Huang said, and the recovery of the market will take some time.“I think the number of high-end dining establishments will continue to fall, and people may have to brace for tough times ahead,” he added.