Shanghai suburbs booming
30/4/2003 15:07
A significant proportion of Shanghai's manufacturing industry, real estate
development projects and foreign investment have shifted to suburban areas,
statistics for the first three months show.
The added value of the
industrial sector in Shanghai suburban areas increased by 21 percent in the
first three months compared with the same period last year, with total profits
up more than 50 percent.
Among all suburban enterprises, private
companies and joint ventures saw the largest increase.
As planned,
Shanghai's outskirts will focus on the iron and steel, auto manufacturing,
electronic and information and fine chemical industries.
Real estate
development has risen more than 40 percent, with the total investment exceeding
3.6 billion yuan (US$430 million), thanks to infrastructure construction in
suburban areas. Investment in suburban infrastructure construction more than
doubled in the same period.
Contract project investment in suburban
Shanghai increased by 46 percent in the first three months, owing to maturing
public services and lower business costs in the area compared to
downtown.
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