Beijing, Shanghai record double-digit GDP growth

Beijing, Jan 31 | Updated: Feb 1 2006, 05:30am hrs
Key Chinese cities, Beijing and Shanghai have registered impressive double-digit GDP growth during 2005, powering the communist Giants growing economic might, latest official statistics said on Tuesday.

Beijings gross domestic product (GDP) reached $85,2 billion last year, a year-on-year increase of 11.1%, the Municipal Statistics Authority said.

The figure contributes to an average annual GDP growth of 11.9% in the national capital during Chinas 10th Five-Year Plan period (2001-2005), up 2.9% as against the original goal, deputy director of the Beijing Municipal Statistics Bureau, Yu Xiuqin said.

The total output value of Beijings agricultural, industrial and service sectors registered respectively $1.2 bn, $26.3 bn and $57.7 bn in GDP in 2005.

The per capita GDP of Beijing reached $ 5,457, last year, up 8.1% as against 2004.

Meanwhile, Chinas economic hub, Shanghais GDP has recorded a double-digit growth for 14 consecutive years, the Municipal Development and Reform Commission of the city said.

Shanghais GDP soared a further 11.1% to $114 bn in 2005. The largest Chinese citys primary industry reported $51.25 billion of added value, up 12.5% year-on-year.

Meanwhile, the added value of the tertiary industry stood at $57.25 bn in 2005, up 10.5% from the previous year.

Shanghai reported $44.25 bn of fixed assets investment in 2005, up 14.5% year-on-year. Most of the investment was spent on 56 major construction projects.

In terms of foreign investment, Shanghai reported a contractual use of $13.8 bn, with $6.85 bn of investment already in place. The citys foreign trade also saw an increase in 2005, with $91 bn of exports, up 23.8% year-on-year, and $93.5 bn of imports, up 8.1% year-on-year.