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Shanghai’s Economy To Grow 5.3% In 2023 - Research Institute

CHINA PRESS
MNI (BEIJING)

Shanghai’s economy will grow 5.3% in 2023, with consumption and investment playing an important role in driving high-quality development, according to a report by the Economic Research Institute of the Shanghai Academy of Social Sciences. The report notes the resilience of the local economy in 2022 as reasons to be optimistic about this year's prospects, with statistics showing the financial industry grew 6.1% last year. Service industries achieved a year-on-year growth of 5.3%. The institute recommended more policies to stimulate consumption, lower mortgage rates, and invest in new industries. (Source: 21st Century Herald)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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