Shanghai unveils $257b in infrastructure projects as economy slumps on COVID-19 lockdowns

China’s commercial and financial hub Shanghai is trying to revive its economy, which is still suffering from a two-month COVID-19 lockdown. It’s launching eight infrastructure projects with a total investment of nearly $260 billion. These include deep-sea offshore wind power projects and a transport hub in Pudong. Shanghai’s economy slumped 13.7% in Q2 — the most among China’s province-level regions.

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