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Shanghai's Boomtown Reports Fast GDP Growth
Pudong New District, Shanghai's boomtown, generated 56.2 billion yuan (US$6.8 billion) in gross domestic product (GDP) during the first half of this year, up 15 percent year-on-year.

Pudong achieved an industrial output value of 100.1 billion yuan (US$12.2 billion), up 18 percent over the same period last year.

The district is the fastest growing part of Shanghai, China's biggest industrial and business center.

Fixed asset investment in the district totaled 23.1 billion yuan (US$2.8 billion), an increase of 33 percent while the overall export volume grew nearly 13 percent to 6.2 billion US dollars.

The district's tourism sector also recorded overall revenue of 1.5 billion yuan (nearly US$200 million), up 29 percent.

Tourists to the district totaled 7.43 million, including 180,000 overseas travelers.

Total retail sales for the district rose about 10 percent to 12.2 billion yuan (US$1.48 billion).

Pudong approved 462 overseas-funded projects with US$1.3 billion in contractual value, up 17 percent and 25 percent, respectively.

(Xinhua News Agency August 5, 2002)

Tax Revenue in Shanghai's Boomtown Sets New Record
Pudong's Per-capita GDP to Top US$7,000
Pudong on New Spree to Entice Investors
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