Home>>Business
Last updated at: (Beijing Time) Monday, November 11, 2002

Tertiary Trade Key Component of Shanghai Economy

The proportion of tertiary trade as part of Shanghai's gross domestic product (GDP), has grown at a rate of two percentage points annually for the past 13 years.


PRINT DISCUSSION CHINESE SEND TO FRIEND


The proportion of tertiary trade as part of Shanghai's gross domestic product (GDP), has grown at a rate of two percentage points annually for the past 13 years.

By 2001, tertiary trade made up 50.7 percent of the city's total GDP, according to the municipal statistics bureau.

The added value of the city's tertiary trade reached 250.9 billion yuan (30.2 billion US dollars) last year, 3.2 times more than in 1989. Retail sales of consumer goods in Shanghai totaled 186.1 billion yuan (22.4 billion US dollars), 5.6 times the 1989 figure, representing an average annual growth rate of 15.5 percent over the past 13 years.

The Shanghai Stock Exchange is now the third largest stock market in Asia, behind Tokyo and Hong Kong. Its turnover rose to 4.4 trillion yuan (530 billion US dollars) last year, four trillion yuan (481 billion US dollars) more than it was in the early 1990s.The transaction volume of the China Foreign Exchange Trade System topped 75 billion US dollars last year, doubling the figure of 1994, the year it was founded.

A government official in charge of the tertiary sector attributed its rapid growth to the government's policy of giving priority to the development of tertiary trade while simultaneously carrying out industrial structural adjustment.


Questions?Comments? Click here
    Advanced






Overseas Investors Eye Shanghai's Service Sector

Service Sector in Shanghai to Open Wider to Foreign Investors



 


Anti-War Rally in Italy Draws 450,000 ( 5 Messages)

Iraq Must Cooperate with UN Unconditionally: Bush ( 3 Messages)

New Chapter in New Century ( 2 Messages)

China Owes 13-year Success to Pathbreaking CPC Central Leadership ( 2 Messages)

A US-Iraqi War Will Affect China, China Has Had All-round Counter-measures ( 52 Messages)



Copyright by People's Daily Online, all rights reserved