Shanghai's economy expanded 13 percent in the first half this
year, said the city's statistics bureau today.
The blistering pace is 0.4 percentage point higher than the
corresponding period last year, said the bureau.
Shanghai's gross domestic product in the first six months hit
556.91 billion yuan (US$73.64 billion).
China's economy grew 11.9 percent to 10.68 trillion yuan in the
second quarter, the fastest growth in more than a decade, the
National Bureau of Statistics said on July 19.
Shanghai's major economic barometers, including fixed-asset
investment and retail sales remained strong in the first six
months, analysts said in previous reports.
Foreign direct investment to Shanghai grew 7.3 percent to US$4.3
billion through June, a rise of 3.8 percentage points from a year
earlier.
Exports from the city are estimated to expand 20.8 percent to
US$64.3 billion in the first half while imports will likely jump 21
percent to US$63.5 billion during the period.
Meanwhile, inflation in Shanghai jumped 1.8 percent in the first
half led by increasing costs of food and household products, the
city's statistics bureau said. The growth outpaced the 1.5-percent
rise in inflation in the first quarter.
(Shanghai Daily July 24, 2007)