Urban shrinkage is becoming an increasingly common phenomenon in China. The research focus has been the identification, origin, and pattern of shrinking cities. Nevertheless, attention has also been paid to the problems associated with urban shrinkage. The present study examines one typical shrinking city in China, specifically the Yichun District in Yichun City. To explore the matching relationship between residential and commercial spaces, this study analyzes supply and demand data, electricity consumption data and multi-source points of interest (POI) of residents. The results showed that the occupancy rate is not reduced in the context of urban shrinkage, and that the supply level of various commercial facilities is not in decline. Apart from leisure and entertainment facilities, the supply levels of catering, shopping and supporting facilities for life were noted to have improved. In reference to urban shrinkage, the matching relationship between residential and commercial space in the 5-min, 10-min, and 15-min living circles mainly shifted to a high-level equilibrium. The matching relationships between residential space and different types of commercial spaces change in both direction and magnitude. From the perspective of supply and demand, the spatial and temporal changes in the relationship relate to multiple factors, such as the level of economic development, the buiding age pattern, public transportation accessibility, aging, and residents' willingness to move. This study provides relevant data for managing urban shrinkage. It also helps improve the relationships between residential and commercial spaces and works to optimize the layout and structure of functional urban spaces.