China's GDP June 2022

China's GDP in the first half of 2022 exceeded 56 trillion yuan (about $8.3 trillion), which represents a growth of about 2.5% compared to the first six months of 2021. The data for the second quarter of the year, on the other hand, is below expectations: during the three months from April to June, the Chinese economy slowed significantly.

When the country's growth in the second quarter of this year is compared with the same period last year the growth rate is 0.4%, this is mainly caused by the stringent anti-Covid measures implemented in April which had a significant economic impact. The impact of these measures was particularly felt in Shanghai, due to the two months of lockdown imposed by the authorities, during this second quarter of 2022 Shanghai’s fell by 13.7% when compared with the second quarter of 2021.