Caixin
Aug 26, 2022 09:32 PM
ECONOMY

In Depth: As Growth Slumped, Covid Determined Whether China’s Regions Fared Better or Worse

An ongoing night life festival is held in Shanghai on Sunday as part of efforts to stimulate consumer spending. Photo: VCG
An ongoing night life festival is held in Shanghai on Sunday as part of efforts to stimulate consumer spending. Photo: VCG

China’s economy grew at the slowest pace for two years in the second quarter, as Covid-19 lockdowns disrupted manufacturing hubs and stifled everyday life. Although most provincial-level areas grew faster than the national rate, a handful of regions dragged on growth.

National GDP grew just 0.4% year-on-year during the three-month period, tumbling from 4.8% in the previous quarter, according to National Bureau of Statistics (NBS) data released last month. It is the worst performance since the first quarter of 2020, when the country was shocked by the outbreak of Covid, which led to a 6.9% contraction in GDP.

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