Latest News:  
Beijing   Light rain/Sunny    11 / 4 ℃  City Forecast

English>>China Business

Gain in industrial output ends losing streak

By Wang Yanlin (Shanghai Daily)

09:34, November 16, 2012

SHANGHAI'S industrial production rose 0.1 percent from a year earlier in October, ending a losing run since June and signaling a long-awaited economic recovery, the Shanghai Statistics Bureau said yesterday.

The industrial output climbed to 260 billion yuan (US$41.8 billion) last month, with a higher output achieved by consumer goods producers. In September, the city's industrial output fell 1 percent.

"The expanding industrial production shows the domestic demand is recovering," said Xue Jun, an analyst at CITIC Securities Co.

The output of Shanghai's six pillar industries - information technology, auto, petroleum, refined steel, machinery equipment and biomedicine - added 0.7 percent to 175.1 billion yuan last month. It rebounded from a 2 percent fall in September, and was led by the biomedicine and auto sectors, which powered 7.1 percent and 5.2 percent respectively.

Shanghai's fixed-asset investment, however, rose by a slower 4.8 percent to 392.6 billion yuan in the first 10 months of this year, compared with an increase of 5.2 percent in the first three quarters because of less investment in the property sector, the bureau said.

Foreign direct investment in Shanghai climbed 14.6 percent to US$1.21 billion in October, a slowdown from an increase of 35.9 percent in September.

Shanghai's gross domestic product grew 7.4 percent year on year in the first nine months amid a higher comparative base, accelerated economic restructuring and more exposure to external markets. In the same period of last year, the GDP gained 8.2 percent.

Yan Jun, the bureau's chief economist, said earlier that Shanghai may still meet the targeted 8 percent this year. But Xue warned a decline in trade may derail the city from meeting the target.

We recommend:

A Decade of Fastest Development

Eastern Boom Lightens Western Gloom

Chinese firms 'potential Trojan horses'? slows

AVIC unveils new aircraft engines

Oct. data released, inflation slows

13th Int'l Automobile Industry Exhibition

China Int'l Industry Fair opens in Shanghai

Caofeidian coal wharf put into use

Galaxy Soho building in Beijing


Leave your comment0 comments

  1. Name


Selections for you

  1. China’s J-10 fighters give performances

  2. Daily Review of Airshow China

  3. Sky-gazers gather in N. Australia

  4. 'Gangnam style' life of young rich

  5. Luxurious antique style vessel with 5D cinema

  6. Galaxy Soho building in Beijing

  7. Su embroidery: stunning Chinese folk arts

  8. Who looks better?

Most Popular


  1. China should change growth model
  2. Bell Helicopter identifies China as strongest market
  3. RQFII quota expansion to bolster stock market
  4. IPR pirates face tougher prison terms
  5. Why 'Diaosi' gets so popular in China
  6. Reliance on investment should be reduced
  7. Live and let learn
  8. Coddled kids in need of tougher sports
  9. Commentary: Turning point for growth
  10. Airline outlook: Less turbulence, more profit

What’s happening in China

'Gangnam style' life of young rich in Chongqing

  1. Police warn seniors about telecom scams
  2. Wedding gifts on school uniforms?
  3. Tiger' parenting more like folk prescriptions
  4. Dead mosquitoes lead to road accident
  5. Rhinestone motorist fails to impress police