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Last updated at: (Beijing Time) Tuesday, January 27, 2004

Tianjin reports fast economic growth

The Gross Domestic Product (GDP) hit 238.69 billion yuan (29 billion US dollars) in Tianjin in 2003,up 14.5 percent from the previous year, according to official statistics in the north China port city.


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The Gross Domestic Product (GDP) hit 238.69 billion yuan (29 billion US dollars) in Tianjin in 2003,up 14.5 percent from the previous year, according to official statistics in the north China port city.

Per capita GDP reached a historic high of 25,874 yuan (3,126 dollars).

The figures show that the city achieved industrial added value of 110.34 billion yuan (13.3 billion dollars) which rose 18.4 percent. The added value of tertiary industry was 108.49 billion yuan (13.1 billion dollars) with an increase of 11.5 percent.

The city realized investment in fixed assets of 104.67 billion yuan (12.6 billion dollars), up 29 percent.

Retail sales hit 107.4 billion yuan (12.9 billion dollars), up 14.1 percent.

Officials with the city statistics bureau said that car and house purchases were the major momentum for private consumption.




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