Shanghai Reports 10.2 Percent GDP Growth

Gross domestic product (GDP) in China's largest metropolis Shanghai grew 10.2 percent in 1999 over1998, according to the Municipal Bureau of Statistics.

This is the eighth consecutive year of steady GDP growth in Shanghai. Total GDP reached 403.5 billion yuan (about 46 billion U.S. dollars).

As a result of Shanghai's industrial restructuring, its second and tertiary industries rose nine percent and 13 percent respectively. The tertiary sector, whose total added value amounted to 200.1 billion yuan (about 23 billion US dollars) in 1999, now accounts for 49.6 percent of Shanghai's total GDP.

Total industrial output value reached 630.7 billion yuan (about72.5 billion US dollars) in 1999, up 11.1 percent, while the industrial added value grew 9.6 percent to hit 175.9 billion yuan (about 20 billion US dollars).


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