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A case in point is the Jeani Chinyang Chong Shang Brewing Co., a decades-old distillery that continues to operate despite running at a loss since 2020. The plant employs 300 workers, many under a government poverty alleviation scheme. Its survival is largely attributed to the potential social fallout of its closure, especially concerning workers' income and pensions.
The report highlights that the proportion of loss-making industrial firms is at its highest since 2001, reflecting increasing domestic demand stagnation and global trade pressures. Factors contributing to this challenging scenario include deflation, decreased consumer confidence post-property sector collapse, and international scrutiny towards China's excessive production.