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Shanghai GDP expands at slower rate of 8.4% in first half
By Zhang Fengming |
July 22, 2011, Friday
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Online Edition
Online Edition
SHANGHAI'S economy grew at a slower pace of 8.4 percent in the first half of this year, compared with 9.9 percent in 2010 and 12.7 percent in the first half of 2010, according to statistics released today.
The city's gross domestic product totaled 916.4 billion yuan in the first six months.
Inflation rose 5 percent in the first six months, buoyed by a 10.4 percent hike in food prices. Inflation in the same period last year was 2.2 percent.
Shanghai aims to keep its inflation under 4 percent this year, after prices rose 3.1 percent in 2010.
Economists said food prices, riding on soaring pork prices, have become the main driver of inflation.
The city's gross domestic product totaled 916.4 billion yuan in the first six months.
Inflation rose 5 percent in the first six months, buoyed by a 10.4 percent hike in food prices. Inflation in the same period last year was 2.2 percent.
Shanghai aims to keep its inflation under 4 percent this year, after prices rose 3.1 percent in 2010.
Economists said food prices, riding on soaring pork prices, have become the main driver of inflation.
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