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March 9, 2018

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Shanghai GDP expands 6.9% in 2017

SHANGHAI’S economy grew 6.9 percent in 2017, the municipal statistics bureau said yesterday.

It kept pace with China’s gross domestic product growth and was slightly higher than the 6.8-percent increase in 2016.

Shanghai’s GDP was 3.01 trillion yuan (US$475 billion) last year with the largest contribution from the tertiary sector, which made up 69 percent of the total.

Value added in the primary industry fell 9.5 percent, while growth in secondary and tertiary industries was 5.8 percent and 7.5 percent, respectively.

Shanghai’s total investment in fixed assets rose 7.2 percent to 724.7 billion yuan last year, with the largest part seen in the tertiary industry which made up 85.7 percent of the total.

Strategic emerging industries in Shanghai saw an 8.7 percent increase in industrial added value to 494.4 billion yuan, taking upr 16.4 percent of the city’s total GDP last year, up 1.2 percentage points.


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