Half of Local Industry in Shanghai Has Emerged From Lockdown

摘要

The Shanghai Municipal Commission of Economy and Informatization recently announced that a significant portion of the city’s key manufacturing operations have resumed activity. Figures from the Commission indicate that 4,400 companies-or about 50 percent of the city’s 9,000 manufacturing companies with annual sales of 20 million yuan (ff2.97 million) or more-have resumed production. Looking at examples in the chemical industry, a China Petroleum & Chemical Corp. (Sinopec) a?liate that operates a plant within Shanghai Chemical Industry Park (SCIP) is now operating at 90 percent capacity. Germany’s BASF SE, meanwhile, has brought the average operating rate of its multiple production facilities in the city back up to 70 percent.