China's Covid policy locks down a city three times the size of New York

cnbc.com:

China's latest wave of Covid restrictions has forced millions of people — roughly three times as many as live in New York City — to stay home and undergo mass virus testing in the metropolis of Shanghai.

As Covid cases began to spike in late February, Shanghai tried to control the outbreak with targeted, neighborhood lockdowns. But the city, a center for global transport, manufacturing, finance and trade, decided in late March to implement a two-stage lockdown that soon applied to all districts, generally forcing people not to leave their apartments.

Most people outside China know that Shanghai is big, but few realize just how big economically. The following numbers indicate the scale of Shanghai as an economic center — and may hint at the cost of the lockdown.

Shanghai's official permanent resident population in 2020 was 24.9 million.

In terms of U.S. states, Shanghai is between the size of Florida (pop. 21.8 million) and Texas (pop. 29.5 million).

In terms of U.S. cities, Shanghai is three times the size of New York City (pop. 8.3 million) — the largest city in the United States.

That means the 280,120 Covid contacts Shanghai has reported as of Thursday for the latest outbreak represent only 1.1% of the city's population.

Shanghai's GDP grew by 8.1% in 2021 to 4.32 trillion yuan ($680.31 billion).

Shanghai sits at the mouth of the Yangtze River, one of the two main rivers in China.

According to Bernstein:

In all, Shanghai accounted for 7.3% of China's exports and 14.4% of imports in 2021, according to Citi.

According to Citi, Shanghai is China's:

The Shanghai Stock Exchange is the world's third-largest by market capitalization, behind the New York Stock Exchange and the Nasdaq as of the end of 2020, according to World