Shanghai's Boomtown Reports Fast GDP Growth

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Last updated at: (Beijing Time) Sunday, August 04, 2002

Shanghai's Boomtown Reports Fast GDP Growth

Pudong New District, Shanghai's boomtown, generated 56.2 billion yuan (6.8 billion US dollars) in gross domestic product (GDP) during the first half of this year, up 15 percent year-on-year.

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Pudong New District, Shanghai's boomtown, generated 56.2 billion yuan (6.8 billion US dollars) in gross domestic product (GDP) during the first half of this year, up 15 percent year-on-year.

Pudong achieved an industrial output value of 100.1 billion yuan (12.2 billion US dollars), up 18 percent over the same period last year.

The district is the fastest growing part of Shanghai, China's biggest industrial and business center.

Fixed asset investment in the district totaled 23.1 billion yuan (2.8 billion US dollars), an increase of 33 percent while the overall export volume grew nearly 13 percent to 6.2 billion US dollars.

The district's tourism sector also recorded overall revenue of 1.5 billion yuan (nearly 200 million US dollars), up 29 percent.

Tourists to the district totaled 7.43 million, including 180,000 overseas travelers.

Total retail sales for the district rose about 10 percent to 12.2 billion yuan (1.48 billion US dollars).

Pudong approved 462 overseas-funded projects with 1.3 billion US dollars in contractual value, up 17 percent and 25 percent, respectively.

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