Shanghai’s Economy Grows 10.1 Per Cent | Stock Market News & Stocks to Watch from StraightStocks

National Debt Clock

Shanghai’s Economy Grows 10.1 Per Cent

Source: http://www.bizchina-update.com/content/view/1532/2/
Posted on Tuesday, October 28th, 2008 | In China

Contributed by: Biz China Update (http://www.bizchina-update.com) -

By Peter Bachmann, on Wednesday, 29 October 2008

Published in : The News, News October 2008

The economy of Shanghai expanded 10.1 per cent from January to September 2008, the city’s Mayor Han Zheng said during a press conference.

“Shanghai continues with its healthy, stable and smooth development,” Han said following a meeting with Netherlands’ Prime Minister Jan Peter Balkenende.

The consumer price index rose 6.7 per cent in the same period year-on-year, well above the 4.8 per cent level that the government has set as its end of year goal. Investments grew 4.8 per cent, to RMB326.9 bn. New figures from the Shanghai Statistics Bureau show that around 40,000 foreign companies are registered in the city.

Statistics for the third quarter alone were not available.

Last 5 posts by Biz China Update

Weekly China Statistics Update - October 25th, 2008
Spain Lends EUR360m to China, China Joins Inter-American Dev. Bank - October 24th, 2008
GDP Grows 9.9 Per Cent - October 20th, 2008
CIC Says Major U.S. Fund Investments Are Secure - October 16th, 2008
China's Wastewater Lures Foreign Companies - October 9th, 2008

Tags for this Post:
biz china update, China, China, CNY, Han Zheng, Jan Peter Balkenende, peter bachmann, shanghai, Shanghai Statistics Bureau, The Netherlands

About Biz China Update (http://www.bizchina-update.com)

Launched on 1 September 2007, BizChinaUpdate is an independent online information resource, providing fast, accurate China business news, interviews and features. Readers can browse our selection of online China business content and register at our website to sign up to our free weekly electronic newsletter.

As China continues to evolve into a global power, its economic structures are changing, new laws are being enacted and the government is seeking to re-channel the fruits of sustained growth from the eastern seaboard to the rest of this vast nation. Gateway cities, such as Beijing, Shanghai, Shenzhen and Guangzhou, now compete with cities across China for foreign and governmental investment.

Meanwhile, successful Chinese companies are raising billions of dollars from domestic and international IPOs, and the most ambitious are acquiring foreign companies from Santiago to Sydney and Stockholm to Saigon. The nation’s twin-barreled property and stock market frenzy has created 106 dollar billionaires, when in 2002 there were none.

China's unparalleled economic renaissance is impacting citizens of almost every nation, and timely, reliable information on commercial trends and developments is in strong demand. That’s why BizChinaUpdate was created: to provide business news and informed comment from trusted sources.

Leave a Reply

Related Posts

No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.