Shanghai's Pudong New District Reports 16 % Growth in 2001

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Last updated at: (Beijing Time) Tuesday, January 08, 2002

Shanghai's Pudong New District Reports 16 % Growth in 2001

Shanghai's Pudong New District reported an economic growth of 16.1 percent in 2001, which is 5.9 percent higher than the growth rate of Shanghai as a whole. This is the 10th consecutive year in which Pudong has reported a growth rate above 16 percent.

Figures released Monday by the statistic bureau of the Pudong New District show that the district's gross domestic product (GDP) hit a record high of 108.2 billion yuan, amounting to 21.9 percent of the Shanghai GDP.

Authoritative sources attributed Pudong's strong growth to the continued robust rise in investment, exports and domestic trade.

The new district recorded fixed asset investment worth 42 billion yuan in 2001, and two billion U.S. dollars worth of contracted overseas investment.

Its export rose 20 percent to 11.5 billion U.S. dollars.

The manufacturing sector made a 53 percent contribution to the Pudong's economic growth in 2001, compared with 47 percent from the service sector.

The hi-tech sector turned in 43 percent of the district's industrial output in 2001.

Pudong New District Posts 22 % Growth in Foreign Trade

The booming high-tech industrial and financial district of Pudong in Shanghai, China's leading industrial, business and shipping center, has registered a 22-percent increase in foreign trade during the January-October period.

Pudong New District Reports Sustained FDI Growth

Shanghai's Pudong New District, an emerging financial and trade zone set up in the early 1990s, has recorded sustained increase in its use of overseas investment.

Latest statistics show that Pudong has launched over 7,192 joint projects with investors from over 70 countries and regions, involving some 15.7 billion US dollars of contractual investment from overseas.

About Pudong New District

The Pudong New District is a triangular area to the east of the Huangpu River and to the west of the Yangtze River estuary it occupies a central spot on China's coastline where the Yangtze River flows into the East China Sea.

With the developed downtown Shanghai and the vast and rich Yangtze River Delta in its west precincts, the new area has easy access to economically developed countries and regions on the Pacific Rim and in Southeast Asia. The geographic location gives the district exceptional advantages.

Pudong New District Reports Sustained FDI Growth

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