Comprehensive Economic Strength
11/8/2004 10:23
Economic Strength
Sustained fast development has markedly
increased the city's comprehensive economic strength and constantly jacked up
its average per capita GDP. In 1993, for the first time, the city's per capita
GDP exceeded 2,000 US dollars, according to the exchange rate of that year and
the population of residents with permanent resident paper. The figure climbed to
3,000 US dollars in 1997 and 4,000 US dollars in 2000. In 2003, the figure
reached 5,642 US dollars, the highest among all Chinese provinces,
municipalities, autonomous regions, except for Hong Kong, Macao and
Taiwan.
Financial Income
While maintaining a fast economic growth
rate, Shanghai has also
achieved a big increase in its financial income. In 2003, the city realized a
total financial income of 282.887 billion yuan, including 89.929 billion yuan in
local financial revenue, up 28.5% and 32.5% respectively over the previous year.
Of the total, the value-added taxes totalled 17.02 billion yuan, up 24.4%;
business operation taxes 33.231 billion yuan, up 31.9%; personal income taxes
7.181 billion yuan, up 33.8%; and property taxes 2.241 billion yuan, up 13.8%.
The local expenditures totalled 110.264 billion yuan, up
25.6%.
One Day in Shanghai
Shanghai is the largest economic city in
China and it
plays a major role in the nation's social and economic life. Following is a list
of results of an average day's economic activities in the
city.
Daily Economic Index in
Shanghai
GDP 1.713
billion yuan
Total Industrial Output Value 3.087 billion
yuan
Social Retails 608 million
yuan
Commodities Passing Through the Ports 551 million US dollars
Export Products 308 million US
dollars
Securities Transaction 22.684 billion
yuan
Port Cargo Handling Volume 865,800 tons
Container Handling Volume 30,900 TEUs
Passengers
97,600 person/time
Overseas Tourists Entering China through
Shanghai 8,763.56
persons/time
Flights 334.82
Passengers Riding City Public Transportation 7.4822 million
person/time
Passengers Riding the City Rail Transportation 1.1123 million
person/time
City Gas, Natural Gas Consumption 8.0274 million cubic
meters
Tap Water Sales 5.6603 million cubic
meters
Power Consumption 204 million kwh
Newspaper Publication 4.6712
copies
New Telephone Users 1,671
New Mobile Phone Users 5,068
New Savings Deposit 911 million
yuan
Volume of Foreign Exchange Transaction 414 million US
dollars
Economic Structure
Industrial Structure
The city has further optimized its
industrial structure, thus constantly consolidating the foundation for its
economic growth. In 2003, the realized added value in the city's secondary
industry reached 313.072 billion yuan according to the comparable prices, up
16.1% from the previous year. Affected by the outbreak of the SARS epidemic, the
tertiary industry's growth slowed down, but still maintained a steady growth
rate. Its realized added value in the year totalled 302.711 billion yuan, up 8%
from the previous year. During the 1990-2003 period, the annual average growth
rate of the added value in the secondary industry stood at 12.2% and that of the
tertiary industry 12.6%. The ratio of the city's primary industry, secondary
industry and tertiary industry had changed from 4.3:63.8:31.9 in 1990 to
1.5:50.1:48.4 in 2003.
Internal Structure
of the Tertiary Industry
Focusing on
further improvement of the city's function of comprehensive services, the
tertiary industry in the city has witnessed rapid development. In 2003, the six
key sectors, namely, finance and
insurance; wholesales and retails; real estate; transportation and postal
services; information services and software; and boarding and catering, made up
for more than 40% of the city's GDP. Among the six, the proportion of the added
value of the finance and insurance sector in the city¡¯s total stood at 10.1%.
The figure with wholesales and retails reached 9.1%. The figure with the real
estate sector grew from 0.5% in 1990 to 7.4% in 2003. Other services, such as
goods and materials distribution, consulting, and brokerage, have all reported
marked progresses.
Employment
Structure
Since early
1990s, the number of laborers employed in different economic sectors has been
changing with economic restructuring. The number of laborers working in the
secondary industry dropped from 59.3% of the city's total workforce in 1990 to
39.1% in 2003. Meanwhile, the figure with the tertiary industry continued to
increase, jumping from 29.6% in 1990 to 51.8% in 2003. The tertiary industry has
provided a growing number of jobs for surplus laborers, helping to solve the
city's unemployment problem.
Investment Structure
Shanghai has
greatly improved its investment structure. More money has been pumped into
infrastructure, ecological and industrial projects. In 2003, the city invested
245.211 billion yuan in the fixed assets, up 12.1% from the previous year. Of
the total, 62.152 billion yuan went to major projects, accounting for 25.3%;
90.124 billion yuan pumped into housing development, up 18.7% and accounting for
36.8%. The ratio of fixed asset investment in the primary, secondary and
tertiary industries stood at 0.2:32.9:66.9.
As a result of reforms in the investment and
fund-raising system, the investment coming from non-state economic sectors has
been growing rapidly. In 2003, fixed asset investment made by the non-state
sector reached 79.509 billion yuan, 8.7 times that of 1992. Its proportion in
the city's total fixed asset investment grew from 22.9% in 1992 to 32.4% in
2003.
Ownership
Structure
Non-public
ownership grows rapidly while the overall ownership structure keeps improving.
In 2003, the proportion of the state-owned sector in the city's GDP dropped from
82% in 1995 to 64.2%, while the non-public-owned sector jumped from less than
18% in 1995 to 35.8%.
Science and Technology
Scientific Research Strength
Shanghai has been continuously expanding its contingent of scientific and
technological workers. By the end of 2003, work units in the state economic
sector employed a total of xxx technical workers in various specialized fields,
representing an average of xxx technical workers among each 10,000 local
residents. By the end of 2003, there were more than xxx scientific research and
technology development organizations in Shanghai. There were
xxx Academicians in the city, including xxx Academicians of the
Chinese
Academy of
Sciences and xxx Academicians of the Chinese
Academy of
Engineering.
Scientific Research
Strength
Shanghai has been
continuously expanding its contingent of scientific and technological workers.
By the end of 2003, work units in the state economic sector employed a total of
xxx technical workers in various specialized fields, representing an average of
xxx technical workers among each 10,000 local residents. By the end of 2003,
there were more than xxx scientific research and technology development
organizations in Shanghai. There were
xxx Academicians in the city, including xxx Academicians of the
Chinese
Academy of
Sciences and xxx Academicians of the Chinese
Academy of
Engineering.
Scientific Research Input
Since 1990, the city has adopted many measures to set
up and improve a multi-channel, diversified funding system for its science and
technology development. The investment in the city¡¯s scientific research
projects keeps growing. In 2003, about 12.84 billion yuan had been pumped into
R&D projects, up 25.4% from the previous year and accounting for 2.06% of
the city's GDP. It was also 0.76 percentage point above the nation's
average.
Scientific and Technological Achievements
In 2003, the
city reported 1,508 items of major scientific and technological achievement, 90
more than the previous year. They also included 71 items leading in the world,
532 items up to the world's advanced level, xxx items leading in. A number of
important projects, such as fuel cell, information security, maglev and digital
signal treatment chips, had made marked progresses. In 2003, the city won xxx
national science and technology achievement awards, accounting for xx% of the
country¡¯s total.
Patent and Invention
Sharp increases had been registered in the city
for patents and inventions. In 2003, the city handled 22,374 patent
applications, 2,411 more or up 12.1% from the previous year. The city issued
16,671 patent certificates, representing an increase of 9,978 or up 150%. Of the
total, 880 were inventions, 3,844 applications of practical new and high
technology, and 11,947 for exterior designs.
High and
New
Technology Development
Park
The
city has made great efforts to promote the development of its key high and new
technology parks. They include Caohejing New Technology Development Zone,
Zhangjiang
High-tech Park, Shanghai
University Science and Technology Park, China Textile International Science and
Technology
Industry City, Jinqiao
Modern Science and Technology
Park and Jiading
Non-Governmental Technology-Intensive Zone. By the end of 2003, such parks and
zones had covered a total area of xxx square kilometers and the output value of
the new and high technology industry reached more than xxx billion yuan. By the
end of the year, the number of approved high and new technology enterprises in
the city rose from 353 in 1994 to xxx in 2003. In the year, their combined
output value reached xxx billion yuan and created xxx billion yuan in profits
and xxx billion US dollars in export earnings.
Opening to the Outside
World
Foreign
Trade
In
order to achieve fast growth in its export, the city has paid great attention to
implement the policies and measures for promoting export and expanding the
export processing industries. In 2003, the city's foreign trade volume totalled
112.397 billion US dollars, up 54.7% over the previous year. Of the total,
import increased 57.4% to 63.915 billion US dollars and export grew by 51.2% to
48.482 billion US dollars. Meanwhile, the city adopted new seven-day work system
for its Customs and the trade through Shanghai port also
increased. In 2003, export and import through Shanghai Customs reached 201.201
billion US dollars, up 41.2% from the previous year. Of the total, import was
88.895 billion US dollars, up 46.5%, and export 112.306 billion
US dollars,
up 37.3%.
Total Volume of Foreign Trade
US$100 million
Year
Import
Export
1990
21.10
53.21
1995
74.79
115.77
1999
198.19 187.85
2000
293.56 253.54
2001
332.70 276.28
2002
406.09 320.55
2003
639.15 484.82
Mix of
Export Products
After readjustment,
Shanghai has upgraded
its export products to involve more high and new technology. In 2003, the city's
export of new and high-tech products totalled 16.361 billion US dollars, up 120%
over the previous year. These products made up 33.7% of the city's total
exports, up from 23.3% in 2002. Export of mechanical and electrical products
totalled 29.252 billion US dollars in 2003, an increase of 73.8% over the
previous year and accounting for 60.3% of the city's total exports, comparing to
52.5% in 2002.
Foreign-Invested Financial Institutions
The city's
financial industry has been opening wider for overseas investors. By the end of
2003, the city had 89 operating foreign-funded financial institutions (including
six branches). Of them, 47 foreign banks had been authorized to deal in Chinese
currency business. Also, 24 foreign banks in the city had been designated by
their main offices as the branches in charge of reporting their operation on the
Chinese mainland. By the end of the year, the combined deposits balance of these
foreign-funded financial institutions stood at 59.031 billion yuan and the loan
balance 99.288 billion yuan. By the year end, the invested capital (or operation
fund) of the operational foreign-funded financial institutions in the city
totalled 2.434 billion US dollars. Of the total, the figure with banks and
financial firms reached 1.811 billion US dollars, the insurance institutions 320
million US dollars, and security institutions 303 million US
dollars.
|
