City GDP growth sinks below 10% for first time since 1992

By Fu Chenghao and Li Xinran | January 21, 2009, Wednesday |

Online Edition

SHANGHAI'S gross domestic product grew 9.7 percent last year, dipping below 10 percent for the first time since 1992.

The city's industrial output increased 8 percent on year to about 2.44 trillion yuan (US$357 billion) in 2008, said Cai Xuchu, spokesman of the Shanghai Bureau of Statistics.

Shanghai's consumer price index climbed 5.8 percent last year compared to 3.2 percent in 2007.

Abut 9.45 million people were employed by the end of last year, up 359,200 from a year ago.

The global economic crisis might affect the city this year, especially the industry and export sectors, but lower energy and raw material prices would help local enterprises increase profits, Cai said.

The financial and real estate sectors, which declined last year after years of boom, may boost Shanghai's economy this year. Infrastructure projects related to World Expo 2010 would also increase this year in the city, Cai added.

Economy

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

City GDP growth sinks below 10% for first time since 1992

Email this to your friend