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Shanghai Reports Robust Economic Performance
The oriental metropolis of Shanghai reached 357.19 billion yuan (about 43.04 billion US dollars) in gross domestic product (GDP) in the first three quarters of the year, up 10.3 percent from the same period last year.
Sources from the municipal statistics bureau say that the fast economic growth mainly comes from accelerated development in industrial production and sustained expansion of the service trade.
The city's total industrial output was 551.21 billion yuan (about 66.41 billion US dollars) for January to September, up 18.
5 percent from the same period last year and 4.1 percent more than the growth rate for January-September last year.
During the same period, industrial enterprises made a profit of 28.23 billion yuan (about 3.4 billion US dollars) up 24.4 percent, and the comprehensive index of economic benefits in industrial enterprises has risen to 153.26, a record high since 1992.
Investment in fixed assets has been soaring since the beginning of this year. A total of 119.68 billion yuan (about 14.42 billion US dollars) was invested in fixed assets in the first nine months of the year, a rise of 15.1 percent.
Investment in real estate stood at 43.01 billion yuan (about 5.18 billion US dollars), up 19 percent.
Retail sales of consumer goods in the first nine months of the year brought in 136.31 billion yuan (about 16.42 billion US dollars), up 8.8 percent from the same period last year.
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