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Shanghai industrial output returns to growth track
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SHANGHAI'S industrial production edged up 0.1 percent from a year earlier to 259.5 billion yuan (US$41.8 billion) in April, according to the Shanghai Statistics Bureau today. It reversed a decline of 1.5 percent in March.
The six core industries in the city, namely, information technology, automobile, oil refinery, fine steel, machinery equipment and biomedicine, delivered a growth of 0.4 percent, better than the average expansion. They landed a total output at 173.4 billion yuan.
Meanwhile, fixed-asset investment rose 5.8 percent in the first four months, picking up from the pace of 3.2 percent in the first quarter.
Investment in the property sector jumped 15 percent in the January-April period, bolstered by the recent relaxation of restrictions on home purchase.
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