Downturn hits growth in delta cities' GDP

Source: Xinhua | May 4, 2009, Monday |

Print Edition

MAJOR cities in the Yangtze River Delta region, a locomotive of economic growth in east China, reported slower gross domestic product growth in the first quarter as the global downturn intensified, the Wuxi statistical bureau said yesterday.

The cities include Shanghai, Nanjing, Suzhou, Wuxi, Changzhou, Zhenjiang, Nantong, Yangzhou, Taizhou, Hangzhou, Ningbo, Jiaxing, Huzhou, Shaoxing and Zhoushan.

Their aggregate GDP was 1.2 trillion yuan (US$175.7 billion), up 7.9 percent from a year earlier. The growth rate was 5.2 percentage points less than in the year earlier.

Exports fell 22 percent to US$91.6 billion and industrial output of major companies in these cities fell 3.7 percent to 2.34 trillion yuan.

However, the cities fared better in fixed-asset investment which rose 14.9 percent to 539.2 billion yuan, and retail sales climbed 14.6 percent to 491.3 billion yuan.

Economy

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Downturn hits growth in delta cities' GDP

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