Government News
Shanghai GDP down 2.6% in first six months 2020-07-24
Shanghai gross domestic product reached 1.74 trillion yuan (US$248 billion) in the first half of 2020, down 2.6 percent from the same period last year, data from the statistics bureau showed on Thursday.
Although posting a decline in the six-month period from a year earlier, the drop has narrowed compared with the 6.7 percent year-on-year retreat in the first quarter, with the efforts made by the city to stabilize the economy and promote resumption of work after the COVID-19 outbreak.
Among them, the added value in the primary sector was 3.39 billion yuan in January-June, down 2.6 percent from the same period last year; value-added output in the second sector fell 8.2 percent from a year earlier to 425.68 billion yuan, but the drop was 9.9 percentage points slower than the first quarter; while that in the tertiary sector totalled 1.31 trillion yuan, a decline of 0.6 percent year on year, which was 2.1 percentage points slower than in January-March.
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