Briefly

Canton Fair to be held offline, online

For the first time in history, China will host the 130th China Import and Export Fair, better known as the Canton Fair, in both offline and online formats from Oct 15 to Nov 3.The Ministry of Commerce announced the event will boost global trade as well as China's dual-circulation development paradigm. With about 60,000 booths, the fair's exhibition area will span 1.19 million square meters, covering 16 categories of goods, from consumer goods to manufacturing machinery. Owing to COVID-19, the past three Canton Fairs were held online.

Shanghai H1 GDP up 13% to $310b

Shanghai's H1 GDP jumped nearly 13 percent year-on-year to top 2.01 trillion yuan ($310 billion). The tertiary sector, which accounted for 75 percent of Shanghai's GDP, saw its added value surge more than 11 percent year-on-year to 1.5 trillion yuan. The total output of strategic emerging industries increased nearly 20 percent to 716.5 billion yuan, while the amount of foreign direct investment reached $12.4 billion. The per capita disposable income rose 10.3 percent year-on-year to 40,357 yuan, while total retail sales of consumer goods spiked 30.3 percent to 904.8 billion yuan.