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Shanghai GDP growth slows as property sector cools
By Wang Qingchu |
January 20, 2012, Friday
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SHANGHAI'S economy grew an annualized 8.2 percent in 2011 with its gross domestic product hitting 1.92 trillion yuan (US$305 billion), Shanghai Statistics Bureau said today at a press conference.
The tertiary industry took up 57.9 percent of the city's GDP, edging up 0.6 percentage point from the previous year, said Yan Jun, chief economist with the local statistics bureau, at the briefing.
Shanghai's GDP expanded 8.3 percent during the first three quarters of 2011, slowing down as the city focused on quality rather than quantity of economic growth. That compared to a 9.9 percent growth in 2010.
In 2011, the output of real estate sector totaled 101.97 billion yuan, down 2.4 percent from a year ago, the statistics bureau said. Its contribution to the tertiary industry dropped from 15 percent in 2005 to 9.2 percent last year.
The per capita annual disposable income stood at 36,230 yuan and 15,644 yuan for urban and rural households respectively, both up 13.8 percent year on year, according to the statistics bureau.
A total of 641,600 new jobs were created last year. By the end of last year, 273,300 people were registered as unemployed, 4,000 fewer than that at the end of 2010. The unemployment rate was 4.2 percent.
The tertiary industry took up 57.9 percent of the city's GDP, edging up 0.6 percentage point from the previous year, said Yan Jun, chief economist with the local statistics bureau, at the briefing.
Shanghai's GDP expanded 8.3 percent during the first three quarters of 2011, slowing down as the city focused on quality rather than quantity of economic growth. That compared to a 9.9 percent growth in 2010.
In 2011, the output of real estate sector totaled 101.97 billion yuan, down 2.4 percent from a year ago, the statistics bureau said. Its contribution to the tertiary industry dropped from 15 percent in 2005 to 9.2 percent last year.
The per capita annual disposable income stood at 36,230 yuan and 15,644 yuan for urban and rural households respectively, both up 13.8 percent year on year, according to the statistics bureau.
A total of 641,600 new jobs were created last year. By the end of last year, 273,300 people were registered as unemployed, 4,000 fewer than that at the end of 2010. The unemployment rate was 4.2 percent.
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