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After overcoming a tough Q2, Shanghai gears up for economic recovery in H2

Aerial view of Shanghai Photo: VCG

Shanghai officials on Monday highlighted the city’s remarkable achievements over the past decade and vowed further efforts in building the city into a world-class metropolitan spearheading the country’s reform and opening-up efforts and the pursuit of high-quality development in coming years and decades.  

After overcoming a tough period in the second quarter due to COVID-19 outbreaks, Shanghai is also poised to boost economic recovery in the second half of the year, which is vital in the country’s efforts to ensure stable growth, analysts noted on Monday.

Shanghai’s economy suffered a heavy blow in the second quarter, when the city entered into “static management” for two months, sending its GDP down by 13.7 percent year-on-year. Contraction in the city also had a regional and national impact, as rippling disruptions were felt in the Yangtze River Delta, hitting industries such as…

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