Street views of Shanghai Disneytown in Shanghai Disney Resort on June 16. Photo: Wu Shiliu

Shanghai's foreign trade volume reached 1.503 trillion yuan ($224.7 billion) in the first five months of 2022, a year-on-year decline of 14.7 percent due to a resurgence of coronavirus epidemic in early March which lasted till late May.

In May, Shanghai's export and import volume was 275.934 billion yuan in May, dropping 14.1 percent year-on-year. The European Union was the largest buyer of items exported from Shanghai. 

And, 1,173 new foreign directly invested companies were registered in Shanghai from January to May, 56.1 percent down from 2021 levels. Foreign investment value reached $9.876 billion, dropping 3.8 percent. 

As local Omicron outbreak has been put under control, Shanghai authorities on Saturday announced they had won the battle against the latest round of COVID-19 outbreak, allowing the resumption of dine-in services in restaurants across the city. 

Data from China's Ministry of Commerce showed that China received 564.2 billion yuan of actual used foreign investment with a year-on-year increase of 17.3 percent.

Analysts said that the index of China's foreign investment was little affected by Shanghai's omicron outbreak, and will keep increasing as the country will continue its efficient pandemic control measures. 

Global Times