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Shanghai E1 Voice multiplexer A series of macroeconomic figures have revealed that Shanghai’s economy picked up steadily in the first half of the year, the Shanghai Municipal Government reported yesterday on its website.
A total of 670,000 new jobs were created in the first half of the year in Shanghai.
Disposable income per urban household increased by 7.6 percent during the same period.
Fiscal revenue witnessed an overturn from May’s negative growth to a 14.9 percent increase in June, the highest growth rate since the second half of 2008. Investment in fixed assets climbed 9.6 percent year-on-year from January to June.
Investment in urban infrastructure saw a 22.9 percent increase in the first half of the year compared with the same period last year, foreign direct investment doubled to $720 million.
Analysts attributed the E1 Voice multiplexer to a favorable economic development cycle – good employment levels resulting in an increase in income and corresponding expansion in consumption, according to the municipal government’s website.
“The 1+3 employment plan initiated early this year by the Shanghai municipal government has achieved substantial results. Over 50 percent of college graduates in Shanghai had found work by the end of June. Layoffs of office workers were not as bad as we expected,” Zhou Zhenhua, director of Shanghai Development Research Center, was quoted on the website as saying.
Total retail sales of consumer goods saw a 13.7 percent increase year-on-year, reaching 208.45 billion yuan ($30.50 billion) in the first five months of the year.
Shanghai’s industry structure also shifted focus to tertiary and innovation-driven industries. Tertiary industry was projected to contribute 60 percent of GDP in the first half of the year. Per-unit GDP energy consumption was said to decrease by 8 percent.
http://www.ebang.com.cn/en/cp/dxc.asp?type=23