City growth stable and rapid, mayor tells CPC
By Zhang Fengming |
July 11, 2010, Sunday
|
Print Edition
Print Edition
Shanghai's Mayor Han Zheng said yesterday that the city's economy maintained stable and relatively rapid growth in the first half.
He was addressing the final day of a two-day session of the Shanghai Committee of the Communist Party of China in the city.
"Shanghai endeavors to improve its economic structure and increase innovation," the mayor said.
He said the city's high-tech industry outperformed its industrial output in the first half and that the manufacturing sector's total profits growth outstripped its industrial output growth.
Shanghai is restructuring its once export-oriented economy to become more reliant on the advanced manufacturing and services sectors.
The State Council last year issued guidelines to build Shanghai into a global financial and shipping hub by 2020, mirroring China's drive to better balance its economic growth.
Retail sales in Shanghai are also growing stronger than the fixed assets investment growth in the period, showing strong domestic consumption.
Meanwhile, Shanghai Party Secretary Yu Zhengsheng said the city will make use of the good practices in evidence at the World Expo in the post-Expo period.
The 184-day Expo, which ends in October, acts as a platform for Shanghai to improve its urban management and learn from advanced technologies from the rest of the world, he said.
In the housing sector, the city will go all out to expand the supply of affordable housing in building a multi-layer home market.
The city is aiming to build 12 million square meters of affordable homes by the end of the year, or 60 percent of the city's yearly target for new housing. Of that, 4 million square meters, or one-third, will be budget homes.
The city will also lift the threshold for residents to buy budget homes and expand the program, which makes homes more accessible for low-income groups, to downtown areas later this year.
Shanghai's economy got off to a great start this year by surging 15 percent from a year earlier in the first quarter thanks to blistering growth in manufacturing and last year's low comparative base.
He was addressing the final day of a two-day session of the Shanghai Committee of the Communist Party of China in the city.
"Shanghai endeavors to improve its economic structure and increase innovation," the mayor said.
He said the city's high-tech industry outperformed its industrial output in the first half and that the manufacturing sector's total profits growth outstripped its industrial output growth.
Shanghai is restructuring its once export-oriented economy to become more reliant on the advanced manufacturing and services sectors.
The State Council last year issued guidelines to build Shanghai into a global financial and shipping hub by 2020, mirroring China's drive to better balance its economic growth.
Retail sales in Shanghai are also growing stronger than the fixed assets investment growth in the period, showing strong domestic consumption.
Meanwhile, Shanghai Party Secretary Yu Zhengsheng said the city will make use of the good practices in evidence at the World Expo in the post-Expo period.
The 184-day Expo, which ends in October, acts as a platform for Shanghai to improve its urban management and learn from advanced technologies from the rest of the world, he said.
In the housing sector, the city will go all out to expand the supply of affordable housing in building a multi-layer home market.
The city is aiming to build 12 million square meters of affordable homes by the end of the year, or 60 percent of the city's yearly target for new housing. Of that, 4 million square meters, or one-third, will be budget homes.
The city will also lift the threshold for residents to buy budget homes and expand the program, which makes homes more accessible for low-income groups, to downtown areas later this year.
Shanghai's economy got off to a great start this year by surging 15 percent from a year earlier in the first quarter thanks to blistering growth in manufacturing and last year's low comparative base.
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