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Reuters
Beijing’s retail, industry upended by COVID restrictions
The economy of China’s capital Beijing took a hit in April as authorities wrestled with a new COVID outbreak, telling residents to avoid going out or work from home and halting many businesses. Retail sales in the city of nearly 22 million people, a key gauge of consumption, shrank 16.05% in April from a year earlier, according to Reuters calculations based on January-April data released by the city’s statistics bureau on Tuesday, outpacing the nation’s 11.1% contraction. The city’s statistics bureau did not publish data for April or offer comparative figures.
