Shanghai’s economy was hit hard in April by the nearly two-month lockdown. The latest data published by authorities shows that in April, the total industrial output in Shanghai dropped by 61.5 percent compared to the same time last year. An expert pointed out that the Chinese communist regime’s extreme lockdown of Shanghai under its “Zero-COVID” policy has crushed investors’ confidence.
According to the numbers released by the Shanghai Municipal Bureau of Statistics on May 20, the total output value of industrial enterprises in Shanghai in April 2022 was 128.617 billion yuan ($19.22 billion), a sharp plunge of 61.5 percent compared to the same period last year. The numbers for the first four months of this year show an annual decrease of 12.5 percent….