Beijing Economy Down 2.9%

By Ned Kelly, July 19, 2022

0 0

Beijing's economic output decreased 2.9% from a year earlier in the second quarter, according to the National Bureau of Statistics.

The slump comes as gyms, restaurants and some public transport closed during May and early June due to an Omicron outbreak in the capital.

The economies of five out of China's 31 province-level regions shrank in the second quarter.

Shanghai's economic output decreased 13.7%, the biggest contraction among all province-level regions, after a citywide lockdown in April and May saw the metropolis of 25 million effectively come to a standstill.

Meanwhile, Shanghai's urban jobless rate rose to 12.5%, also the highest among all province-level regions.

Hainan's economic output was down 2.5%, with tourists staying away due to lockdowns, or concerns about possible travel restrictions.

Jiangsu (down 1.1%), the country's second-biggest province by economic output, and Jilin (down 4.5%), battered by protracted COVID curbs from March, were the other two province-level economies to contract.

China saw 0.4% year-on-year growth at the national level in the second quarter, well short of the government's growth target of around 5.5% for 2022.


[Cover image via Pixabay]

more news

Driving in Beijing Over National Week? Read These Announcements

Important information for anyone driving in Beijing over National Week holiday.

ATTENTION: This Beijing Travel Rule has Changed

The new nationwide rules mean that almost everyone traveling must have a 48-hour COVID test.

Authorities: ‘Stay in Beijing During Holidays’

Authorities have advised residents of the capital to stay put during upcoming Mid-Autumn and National Day holidays.

14 New COVID Cases in Beijing: Campus Rules Tightened

Most cases have been linked to a university campus in Changping district.

New Beijing COVID Cases Linked to University

New cases have been linked to a student at Beijing University of Chemical Technology.

Leaving Beijing for Mid-Autumn? Remember These Travel Rules

Certain COVID-related travel rules for leaving and entering Beijing still apply.

0 User Comments

In Case You Missed It…

We're on WeChat!

Scan our QR Code at right or follow us at ThatsBeijing for events, guides, giveaways and much more!

7 Days in Beijing With thatsmags.com

Weekly updates to your email inbox every Wednesday

Subscribe

Download previous issues

Never miss an issue of That's Beijing!

Visit the archives