DATA IN FOCUS
Technology hub Shenzhen’s GDP grew 3% in first half, retail sales grew fastest this year in June
China’s technology hub Shenzhen saw its GDP grow by 3% in the first half of 2022 from a year earlier, according to data released by the local government on Wednesday, compared to the 2.5% growth for the national GDP during the period and 2% GDP growth for Guangdong province where the city is located.
China’s industrial profits returned to growth in June, profit structure improved
Profits at China’s industrial companies returned to growth in June after falling for two consecutive months, mainly driven by recovery in the automobile industry. Profit structure improved as divergence between upstream and downstream industries narrowed.
