In China, Luxury Shopping Faces Ongoing Headwinds

China’s zero-Covid policy has weighed heavily on the high-end market in 2022. In the wake of recent protests, is a recovery in sight?

This article is part of our special section on the DealBook Summit that included business and policy leaders from around the world.

Toward the end of 2021, a glittering luxury shopping center called Taikoo Li Qiantan opened its doors in Shanghai. The 120,000-square-meter center (the equivalent to a stretch of 17 soccer pitches) is made up of nine buildings, landscaped gardens and stores from Western brands such as Balenciaga, Bulgari, Cartier, Gucci, Hermès and Tiffany & Company. The expectation for this colossal state-of-the-art mall in China’s commercial capital,

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