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Local Tech Leads Way

GROWTH in Shanghai's industrial production accelerated last month, thanks to the government's continuous efforts to boost technology-led manufacturing, the Shanghai Statistics Bureau said yesterday.

Industrial output increased 12 percent year on year to 216 billion yuan (US$31.6 billion) in October, up from 9 percent in September. Companies involved in electronics, vehicles, oil refining, fine steel, machinery equipment and biomedicine - the city's key strategic industries - reported combined output value of 142 billion yuan, up 17.5 percent from a year earlier.

Shanghai has allocated 10 billion yuan for technological innovation, part of the city's development plan to shift the focus of the industry mix from manufacturing to high technology.


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