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http://www.shanghaidaily.com/art/2006/02/08/240955/City sees 14th double-digit GDP growth.htm
City sees 14th double-digit GDP growth
Created: 2006-02-08 CST, Updated: 2006-02-08 CST
SHANGHAI saw a double-digit economic growth for 14 years straight, after posting an 11.1 percent jump last year, the Shanghai Statistics Bureau announced this afternoon.
The city's gross domestic product rose to 914.39 billion yuan (US$113.51 billion) in 2005, the bureau said.
The first industry contributed 7.96 billion yuan, dropping 9.7 percent from 2004. The second industry chalked up 447.59 billion yuan, growing 12.1 percent, and the tertiary industry contributed the bulk 458.84 billion yuan, an increase of 10.5 percent.
China reported last month an economic growth rate of 9.9-percent for 2005.
At the end of last year, Shanghai revised the scale of its economic activity for 2004, as the central statistics authority enforced a new measuring system after a year-long economic census. The city's 2004 GDP was raised to 807.3 billion yuan.
Shanghai's inflation rate was controlled within a stable range last year, the bureau said.
The consumer-pricing index saw a mild increase of 1 percent on a yearly basis, after fixed assets investment narrowed the growth pace. The investment, totaling 354.25 billion yuan, rose 14.8 percent, losing 11 percentage points.
Foreign investment in Shanghai expanded 18.3 percent to US$13.83 billion, though the number of contracts involving foreign investment fell 5.6 percent to 4,091 last year.
The city's exports amounted to US$90.74 billion, up 23.4 percent. High-tech products accounted for 40 percent of the total export, it said.
Retail sales climbed 11.9 percent to 297.29 billion yuan in Shanghai last year.
The per-capita disposable income of urban residents gained 11.8 percent to 18,645 yuan last year, and rural income grew 10.7 percent to 8,342 yuan.
The city's gross domestic product rose to 914.39 billion yuan (US$113.51 billion) in 2005, the bureau said.
The first industry contributed 7.96 billion yuan, dropping 9.7 percent from 2004. The second industry chalked up 447.59 billion yuan, growing 12.1 percent, and the tertiary industry contributed the bulk 458.84 billion yuan, an increase of 10.5 percent.
China reported last month an economic growth rate of 9.9-percent for 2005.
At the end of last year, Shanghai revised the scale of its economic activity for 2004, as the central statistics authority enforced a new measuring system after a year-long economic census. The city's 2004 GDP was raised to 807.3 billion yuan.
Shanghai's inflation rate was controlled within a stable range last year, the bureau said.
The consumer-pricing index saw a mild increase of 1 percent on a yearly basis, after fixed assets investment narrowed the growth pace. The investment, totaling 354.25 billion yuan, rose 14.8 percent, losing 11 percentage points.
Foreign investment in Shanghai expanded 18.3 percent to US$13.83 billion, though the number of contracts involving foreign investment fell 5.6 percent to 4,091 last year.
The city's exports amounted to US$90.74 billion, up 23.4 percent. High-tech products accounted for 40 percent of the total export, it said.
Retail sales climbed 11.9 percent to 297.29 billion yuan in Shanghai last year.
The per-capita disposable income of urban residents gained 11.8 percent to 18,645 yuan last year, and rural income grew 10.7 percent to 8,342 yuan.
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