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Shanghai notches 8.2% growth in 2009
By Wang Yanlin |
January 22, 2010, Friday
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Online Edition
Online Edition
SHANGHAI'S economy secured a year-on-year growth of 8.2 percent in 2009, with faster expansion in the service industry countering slower pace in manufacturing, the Shanghai Statistics Bureau said today.
It paved the way for the city to achieve a growth rate target of more than 8 percent this year with improving economic conditions.
Gross domestic product in Shanghai jumped to 1.49 trillion yuan (US$218 billion) last year, with annualized rates in the four quarters settling at 3.1 percent, 7.9 percent, 9.8 percent and 11.2 percent respectively.
"Shanghai's economic performance has presented a clear trend of recovery," said Cai Xuchu, chief economist at the bureau.
It paved the way for the city to achieve a growth rate target of more than 8 percent this year with improving economic conditions.
Gross domestic product in Shanghai jumped to 1.49 trillion yuan (US$218 billion) last year, with annualized rates in the four quarters settling at 3.1 percent, 7.9 percent, 9.8 percent and 11.2 percent respectively.
"Shanghai's economic performance has presented a clear trend of recovery," said Cai Xuchu, chief economist at the bureau.
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