Part 3/7:
Business owners are beleaguered by increasing expenses against the backdrop of dwindling revenues. Small and mid-sized enterprises face overwhelming pressure, and many have shuttered their doors permanently. The shift in employment has led some residents to turn to gig work, but the saturation of the job market only compounds their struggles, creating a high-cost, low-income environment.
Economic Data vs. Ground Realities
Statistical evidence reveals a troubling economic portrait. While Chongqing's fiscal revenue showed a slight increase of 4.9% from January to November 2024, underlying indicators indicate a deeper malaise. Significant drops in corporate and personal income taxes reveal that the broader economy is stagnating, aligning with national trends across China.