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Shanghai Expected to Achieve 10% GDP Growth Rate
Compared with last year, Shanghai's GDP is expected to increase 10 percent this year, realizing a two-digit increase for eight consecutive years, according to official sources.
Shanghai's per capita GDP is 3,700 US dollars. And the rapid economic development has been achieved alongside sustainable environmental development.
In 1990, Shanghai generated 10,000 yuan of GDP consuming 4.22 tons of coal and 3,500 KWH of electricity. However, the digits declined to 1.27 tons and 1,242 KWH respectively last year.
Average annual energy consumption declined 6.17 percent.
According to an elderly Shanghai resident, over 10,000 chimney stacks, were highly visible in the heart of the city a decade ago. Now low energy-consuming and high-tech industries have replaced traditional energy-consuming industries.
Ten years ago, Shanghai's service trades generated 24 billion yuan in gross output, making up 31 percent of the city's total.
The percentage has surpassed 50 percent. Low energy-consuming industries such as finance, trade, tourism, insurance and real estate account for a huge part in the service trades. (Source: chinadaily.com.cn)
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