Beijing’s retail sales and industrial output plunged in May as it fought to contain an Omicron outbreak. Photo: Bloomberg
Beijing’s retail sales and industrial output plunged in May as it fought to contain an Omicron outbreak. Photo: Bloomberg

China’s zero-Covid policy hammered Beijing’s economy in May. But how bad was it compared to Shanghai?

  • Beijing’s social retail sales slumped by 25.7 per cent year on year in May, from a fall of 16.1 per cent in April
  • Industrial output dropped 39.6 per cent last month from a year earlier, down from a 31.1 per cent contraction in April

Beijing’s retail sales and industrial output plunged in May as it fought to contain an Omicron outbreak. Photo: Bloomberg
Beijing’s retail sales and industrial output plunged in May as it fought to contain an Omicron outbreak. Photo: Bloomberg
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