Pudong District in Shanghai Sees Rapid GDP Growth

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Last updated at: (Beijing Time) Sunday, May 18, 2003

Pudong District in Shanghai Sees Rapid GDP Growth

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The gross domestic product (GDP) of Shanghais' Pudong New District, a leading new industrial zone in China, reached 43 billion yuan (about 5.2 billion US dollars) in the first four months this year, a year-on-year rise of 17 percent.

According to the district government, 588 new foreign investment projects landed in Pudong in the first four months of this year, up 75.5 percent over the same period of last year, withinvestment of 924 million US dollars, up 43 percent.

In addition, 425 domestic companies out of Shanghai invested inthe district by April this year, up 82 percent, with registered capital worth 3.3 billion yuan, up 34 percent.

Customs reported that the export and import volume of Pudong totaled 16.1 billion US dollars in the first four months of this year, a year-on-year rise of 51 percent, accounting for half of the total volume of Shanghai.

The export volume of Pudong reached 5.86 billion yuan, up 43 percent, taking up 42.6 percent of the city's total volume.

The district reported 80.4 billion yuan of industrial output value in the past four months, a year-on-year rise of 26 percent, thanks to the booming auto, steel and chemistry industries.

The retail sales of consumer products totaled 9.8 billion yuan in Pudong, up 14 percent. Cars, houses and electronic home appliances led the rise.

The total investment in fixed assets reached 14.5 billion yuan,a rise of nine percent. In April the amount topped 5.05 billion yuan, up 18 percent over March, pushed up by IT and real estate projects.

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