Shanghai Inputs Some US$6bn into Key Projects in 2002

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Last updated at: (Beijing Time) Monday, January 13, 2003

Shanghai Inputs Some US$6bn into Key Projects in 2002

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Shanghai, China's largest metropolis, and host of the upcoming 2010 world expo, invested 50.4 billion yuan (6 billion US dollars) on key infrastructure projects during 2002, say city government sources.

Shanghai is resolved to become a world center for trade, banking and shipping and its government plans to input an even larger sum in furthering construction of major projects.

Shanghai is expected to undertake a number of new projects in preparations for the World Expo, noted Zou Xianghe, deputy director of the Shanghai municipal office in charge of construction of key projects, recently.

The municipality completed 26 key projects in 2002 and started work on 39 more, at a total cost per-day of over 140 million yuan (16.9 million US dollars), Zou said.

The city's fixed assets investment in 2002 exceeded 250 billion Yuan (some 30 billion US dollars), according to municipal government statistics.

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