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Shanghai economic activities slow in first 2 months
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SHANGHAI'S economic growth slowed at the start of this year, with industrial production, fixed asset investment and trade all moderating, data from the Shanghai Statistics Bureau showed today.
Industrial production rose 3.8 percent from a year earlier to reach 502 billion yuan (US$81.6 billion) in the first two months. It compared with last year's average rate of 6.6 percent.
Fixed-asset investment gained 4 percent to 66.1 billion yuan during the two-month period, also weakening from the pace of 7.5 percent last year.
Although imports had a strong 21.5 percent expansion in February, exports plummeted by 20.4 percent, which landed the city's total trade at US$28.7 billion last month, up 0.7 percent on an annual basis. In 2013, Shanghai's trade added 1.1 percent.
The results were largely in line with the nation's economic performance, which reported many multi-year lows of real activity data in the January-February period.
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