Skip to navigationSkip to content
GET IT WHILE ITS HOT

China’s soaring hotpot stock hints at life beyond the pandemic

Hot steam rises from hotpots at Shangri-La Hotel's "Ice Palace" restaurant and bar in Harbin
Reuters/Tyrone Siu
Getting the cold shoulder.
  • Tripti Lahiri
By Tripti Lahiri

Asia bureau chief

Published

Lunar New Year is usually a popular time for dining out as families spread out all over China get together to celebrate. But on the eve of the holiday last year, panic was setting in about a new coronavirus. China instituted strict lockdowns, sending restaurant sales cratering 41% in January and February.

The hotpot, especially, conflicted with so many of the pandemic’s new social rules—it’s a form of dining where large groups dip a variety of veggies and meats into a communal broth. And yet China’s leading hotpot chain, the Hong Kong-listed Haidilao, has seen its stock rise 70% for the year. That’s one of several signs China is coming out on the other side as businesses adapt to the pandemic—though it’s still too early to comfortably rejoice.

Enrich your perspective. Embolden your work. Become a Quartz member.

Your membership supports a team of global Quartz journalists reporting on the forces shaping our world. We make sense of accelerating change and help you get ahead of it with business news for the next era, not just the next hour. Subscribe to Quartz today.

Membership includes:

こちらは英語版への登録ページです。
Quartz Japanへの登録をご希望の方はこちらから。