Shanghai's GDP Keeps Growing

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Last updated at: (Beijing Time) Sunday, February 02, 2003

Shanghai's GDP Keeps Growing

China's major economic power house Shanghai reported 540.876 billion yuan of gross domestic product (GDP) in year 2002, up 10.9 percent from the previous year.

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China's major economic power house Shanghai reported 540.876 billion yuan of gross domestic product (GDP) in year 2002, up 10.9 percent from the previous year.

The city achieved an annual fiscal revenue of nearly 220.23 billion yuan (26.53 billion US dollars) in year 2002, up 10.4 percent year-on-year, according to the latest statistics from Shanghai Municipal Statistical Bureau.

Income tax increased by 41 percent to nearly 6.71 billion yuan in the local fiscal revenue.

The city's annual local fiscal expenditure hit 87.78 billion yuan, up 20.9 percent year-on-year.

Industry structure has been optimizing with the secondary and tertiary industries underpinning the economic development.

Value-added of the primary industry was 8.82 billion yuan, up three percent year-on-year, value-added of the secondary industry hit nearly 256.47 billion yuan, up 12.1 percent year-on-year and value-added of the tertiary industry topped 275.58 billion yuan, up ten percent year-on-year.

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