Shanghai's GDP amounted to 403.5 billion yuan in 1999, a two-digital economic growth for 8 years running, according to the Shanghai Statistics Administration.

This figure registered a 10.2% year-on-year rise (on comparable prices), being foremost among provinces in the country.

The rapid economic growth in Shanghai was to the credit of the coordinated development of the primary and secondary industries and the maximum utilization of the domestic and international marts.

The added value of the secondary industry came to 195.398 billion yuan in 1999 in Shanghai, up 9% and contributing to 40% of the economic growth. The added value of the primary industry was 200.098 billion yuan, an increase of 13%, contributing to 60% of the economic growth and about half the GDP.

Shanghai had stepped up industrial reform, technological innovation and restructuring in state enterprises in 1999, resulting in more rational industrial structure and keener competitiveness for pillar industries.

Its industrial added value stood at 175.868 billion yuan in 1999, up 9.6% over the previous year with a growth rate 2 percentage points greater than in the preceding year. Its industrial output value totaled 630.712 billion yuan, a growth of 11.1% (on comparable prices) over a year earlier. The production-marketing rate was 98.1% for industrial products, showing a better dovetailing between production and marketing.

Given an insufficient demand, retail sales climbed up to a record high of 159.038 billion yuan, chalking up a 8.1% rise. The real growth rate was 11.1% subject to pricing declines. All assortments of retail sales witnessed an across-the-board upswing.

The fixed asset investment structure had been improved in Shanghai in 1999, amounting to 185.224 billion yuan, outstripping the projected goal for the year.

Over the past two years, the sliding market prices had been reined in. And the indices of consumer and retail sales prices had pulled out of the trough.