Shanghai’s Massive $90 Billion Project Halts, Signifying the End of China’s Economy!

The downturn in Shanghai’s real economy is apparent and has impacted the development of new projects. A hot topic in China’s business circles is the reported halt of the ’Golden Central Development Belt’ project in Shanghai, planned with a total investment of about 624 billion yuan. Initiated in July 2020 under the leadership of Chinese Premier Li Qiang during his tenure in Shanghai, experts believe the project’s suspension reflects a pessimistic outlook on China’s economy, governmental budget constraints, and a significant reduction in infrastructure projects. #chinaobserver All rights reserved.