[et_pb_section fb_built=”1″ fullwidth=”on” _builder_version=”4.27.4″ _module_preset=”default” background_image=”https:\/\/jmsc6110a.com\/2025b\/wp-content\/uploads\/2025\/05\/WechatIMG6053.jpg” parallax=”on” custom_css_free_form=”\/* Full-width code *\/||.container {||width: 100%;||max-width: 100%;||}||#left-area .post-meta {||display: none;||}||.entry-title {||display:none;||}||#main-content .container {||padding-top: 0;||}||.container.et_menu_container {||max-width: 1080px;||}” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_fullwidth_header title=”Keeping the Lights On \uff1a” subhead=”How hong kong\u2019s businesses are surviving” text_orientation=”center” header_fullscreen=”on” header_scroll_down=”on” scroll_down_icon=”%%9%%” _builder_version=”4.27.4″ _module_preset=”default” title_text_align=”center” title_font_size=”41px” content_text_align=”center” content_font_size=”27px” subhead_font_size=”33px” background_image=”https:\/\/jmsc6110a.com\/2025b\/wp-content\/uploads\/2025\/05\/269761747306070_.pic_.jpg” parallax=”on” title_text_shadow_style=”preset1″ text_shadow_style=”preset3″ global_colors_info=”{}”]<\/p>\n
—-Chen Xuanyi & Wei Zishu<\/p>\n
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The streets of Hong Kong are like an open book, with each small store an unbound chapter. Strolling through once-busy neighborhoods, \u201cFor Rent\u201d signs can be seen everywhere. These vacant storefronts not only epitomize the business ecosystem but also reflect the plight of small businesses under increasing pressure. The \u201cFor Rent\u201d signs on these corner storefronts have become a glaring footnote to the city’s economic fabric, which has seen repeated creases over the past few years – high rents eroding profits, declining tourist traffic, and weak local consumption.<\/p>\n
We visited a lot of stores on Hong Kong Island, and they told us that many of the stores around them had either closed down in the wake of the epidemic or shut down because they could not afford the high rents. However, amidst this dismal scene, there are still lights flickering. Their books are filled with the glaring words \u201closs\u201d, but \u201cthere is no choice but to persevere,\u201d says Sherily zhu, the owner of the crystal store, who has invested more than a million Hong Kong dollars in the store, “Now if we quit, there will be nothing left. The Escape room owners hold on to their life’s work like parents guarding their grown-up children; shopkeepers like Thron and Burrow try to prove the value of \u201cslow business\u201d; and Blotto is convinced that the neighborhood needs their lights. When business logic fails, emotion and conviction become the last pillars of perseverance.<\/p>\n
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\u201cIn 2024, prime street shop rents in Hong Kong saw only a modest 1.3% increase, a significant slowdown from the 14.8% growth recorded the previous year. Meanwhile, rents for premium retail spaces in shopping malls fell by 2.3% this year\u201d<\/p>\n
Traditional cultural and creative stores, independent bookstores and specialty restaurants, which carry the memory of the city, have been hit the hardest. Their disappearance is not just a drop in a few economic figures, but also a threat to community culture and urban identity. Under the triple pressure of rising rents, epidemics and shifting consumption patterns, these stores, which have grown up with the city, have disappeared one after another, leaving behind \u201cFor Rent\u201d signs like cracks in the city’s fabric.<\/p>\n
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