News Snapshot:
BEIJING, (Reuters) – China’s main commercial center of Shanghai revealed a sharp decline in its economy in February. A COVID lockdown in Shanghai shut down factories and residents in the city. This raised concerns about foreign companies’ presence in China. According to local statistics, output from Shanghai’s factories, which are located in the center of manufacturing in Yangtze River Delta shrank by 61.5% between a year ago and April 2013. It was more severe than the 3.5% decrease in March, and it was also the worst monthly decline since 2011. Shanghai houses 30% of China’s auto parts manufacturing capacity and...
