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Home >> Business
UPDATED: 21:19, October 02, 2005
Shanghai industrial production records double-digit growth in Jan.-Aug.
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Shanghai, the economic engine of eastern China, continued to see a recovery in the performance of its industrial sector in the first eight months of this year.

According to the municipal bureau of statistics, major industrial enterprises in Shanghai realized 260 billion yuan (32.1billion US dollars) in value-added output between January and August, a year-on-year growth of 12.4 percent; and 98 billion yuan (12.1 billion US dollars) in gross output, up 13.2 percent.

The growth rates were 0.9 percentage points and 1 percentage point, respectively, higher than the year-earlier levels, the bureau added.

Thanks partly to macro regulatory measures that have been taken since April last year, the auto manufacturing sector in Shanghai continued to cool down.

In the first eight months, the auto sector chalked up 65.6 billion yuan (8.1 billion US dollars) in output value, down 21 percent from the same period of last year, yet the decline rate was lower than the 24.5 percent level for the January-July period,the local statistical bureau said.

Source: Xinhua

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