Growth slows in ShanghaiJanuary 21st, 2012 - 4:14 pm ICT by IANS
Beijing, Jan 21 (IANS) Shanghai’s economy grew 8.2 percent last year, among the slowest of China’s provinces and municipalities, but it remains China’s richest city.
The growth pace moderated from 9.9 percent in 2010 and was well under China’s average of 9.2 percent last year, the Shanghai Daily quoted the Shanghai Statistics Bureau as saying.
The city’s GDP hit 1.92 trillion yuan ($305 billion), with a per capita GDP of 82,560 yuan, highest in the mainland.
Yan Jun, chief economist at the bureau, said although the growth rate in the city continued to weaken in the past two years, the growth quality was improved.
“Shanghai has managed to accelerate economic restructuring, keep inflation stable, and reduce reliance on investment, export and the property market to drive its economy,” Yan said.
He added the rate was comparatively fast given the city’s restructuring process and the global economic slowdown.
Shanghai created 64,160 new jobs last year. The registered unemployment rate stayed at 4.2 percent.
- China's Q2 GDP growth slows (Lead) - Jul 13, 2012
- China's Q1 retail sales up - Apr 13, 2012
- China's 2011 fiscal revenue hits $1.64 trillion - Jan 20, 2012
- China's Q2 GDP growth slows - Jul 13, 2012
- China's GDP falls to two-year low - Oct 19, 2011
- China cuts GDP growth to 7.5 percent in 2012 - Mar 05, 2012
- China's Q1 GDP growth slows - Apr 13, 2012
- China is now world's second-largest economy - Feb 14, 2011
- China's GDP growth slows to 8.1 percent (Lead) - Apr 13, 2012
- China's GDP growth to slow to 9.2 percent - Nov 20, 2011
- Chinese economy assuring amid global uncertainty - Jan 23, 2012
- China's GDP growth sees moderate slowdown (Lead) - Jul 13, 2011
- China's 2011 GDP growth revised upward - Sep 05, 2012
- Chinese vehicle manufacturer's 2011 profits slump - Mar 02, 2012
- China's growth forecast down to 9.4 percent - Oct 10, 2011
Tags: beijing, chief economist, economic restructuring, economy, gdp, global economic slowdown, growth pace, inflation, jan 21, mainland, municipalities, new jobs, per capita gdp, reliance, shanghai statistics, stable, statistics bureau, trillion, unemployment rate, yuan