Tianjin Reports 12.3 Percent Midyear Economic Growth

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Last updated at: (Beijing Time) Saturday, July 20, 2002

Tianjin Reports 12.3 Percent Midyear Economic Growth

The port city of Tianjin, in north China, recorded a 12.3-percent economic growth rate in the first half of this year, official figures show.

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The port city of Tianjin, in north China, recorded a 12.3-percent economic growth rate in the first half of this year, official figures show.

Figures released Friday by the local statistics bureau show the gross domestic product reached 91.58 billion yuan (11 billion US dollars).

The city approved 349 foreign-funded projects, involving 1.765 billion US dollars in actual overseas investment, up 16.7 percent and 8.6 percent respectively over the corresponding period of last year.

Exports totaled 4.88 billion US dollars, an increase of 5.9 percent.

The per-capita disposable income of urban residents rose by 9.1percent to 4,504 yuan (549 US dollars) for the six months, while the per-capita cash income of farmers increased 9.7 percent to 3,250 yuan (396 US dollars).

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