Shanghai Expects Two-digit Economic GrowthChina's leading industrial and commercial city Shanghai generated 319.9 billion yuan in GDP during the first nine months of the year, a year-on-year increase of 10.6 percent, according to official statistics released Friday.The figure is 0.3 percentage points higher than that for the first half of the year. Local analysts said this indicates that the metropolis is likely to obtain an annual two-digit growth rate for the ninth consecutive year. The statistics show Shanghai's industrial added value increased 10.4 percent to top 143.4 billion yuan during the January-September period, with profits surging 54.2 percent to reach 26 billion yuan. Exports and imports surpassed 39.85 billion U.S. dollars during the nine months, up 48.6 percent from the same period in 1999. The city also approved the establishment of 1,363 overseas-funded enterprises, with a combined contractual overseas investment of 3.52 billion U.S dollars, up 21.8 percent and 10.6 percent, respectively. Shanghai achieved 403.5 billion yuan in GDP last year, an increase of 10.2 percent on a yearly basis. |
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