CHINA / Regional |
Shanghai's GDP grows 12 pct last year(Xinhua)Updated: 2007-01-24 09:12 SHANGHAI -- The gross domestic product (GDP) of Shanghai grew 12 percent last year to reach 1.03 trillion yuan (132 billion U.S. dollars), the city's statistics bureau said on Tuesday. Last year was the 15th consecutive year that Shanghai reported double-digit GDP growth, said the Shanghai Statistics Bureau. The year-on-year growth of the city's investment in fixed assets and real estate in 2006 both slowed, a result of macro-economic controls to cool the economy, according to the bureau. Fixed assets investment totaled 392.5 billion yuan (50.3 billion U.S.dollars) in Shanghai, 10.8 percent up, a growth rate four percentage points down from the previous year. Real estate investment totaled 127.5 billion yuan (16.3 billion U.S. dollars), 2.3 percent up. The growth was down 3.8 percentage points compared with 2005. "The city also witnessed steady growth in both urban and rural incomes and a reduction of the growth gap between them," said an official with the bureau. Average per-capita disposable household income for urban Shanghai residents was 20,668 yuan (2,649 U.S. dollars), 10.8 percent up year on year, and for rural households, 9,213 yuan (1,181 U.S. dollars), a rise of 10.4 percent. |
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