Shanghai's per capita GDP reaches 20,000 USD | Forum

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freemexy May 26 '19
Shanghai mayor Ying Yong said on Sunday that the city's gross domestic product (GDP) per capita exceeded 20,000 U.S. dollars in 2018, while the per capita disposable income rose 8.8 percent.To get more shanghai gdp, you can visit shine news official website.
The overall economic growth of the city was at 6.6 percent last year, Ying said while delivering a government work report at the annual session of the municipal legislature. Shanghai's GDP totaled 3.27 trillion yuan (480 billion dollars) last year.
Ying said Shanghai has maintained sustainable and high-quality economic growth. The city set the goal of attaining a growth rate of 6 to 6.5 percent in 2019.
In 2018, Shanghai created 582,000 new jobs, and the urban registered unemployment rate was at 3.6 percent.
Experts said the GDP per capita is an important indicator of a region's economic wellbeing. The fact that it has exceeded 20,000 U.S. dollars means that Shanghai's growth has reached a higher level.
Quan Heng, deputy head of the Shanghai Academy of Social Sciences, said as China aims to build itself into a moderately prosperous society by 2020, the growth of GDP per capita is a key measurement.
Quan added that besides per capita GDP, other factors such as economic structure, efficiency and technological innovation are also important indicators of development.
Ying Yong said the city will deepen reform and opening-up and promote high-quality economic growth in the following year.
Shanghai's GDP totaled 3.27 trillion yuan (about 480 billion U.S. dollars) last year, up 6.6 percent, the municipal statistics bureau announced Tuesday.
The reading was slightly lower than the 6.9-percent increase in 2017. It kept pace with the country's 6.6-percent GDP growth last year.
The tertiary industry was the largest contributor to the city's GDP last year, accounting for 69.9 percent of the total.
Value added in the primary industry dropped 6.9 percent, while growth in secondary and tertiary industries was 1.8 percent and 8.7 percent, respectively.
Shanghai's total retail sales of consumer goods rose 7.9 percent to reach 1.27 trillion yuan in 2018. Strong growth was posted in the city's online sales, whose volume reached 150.7 billion yuan, a year-on-year increase of 15.8 percent, up 6.2 percentage points.
The city's total investment in fixed assets posted a year-on-year growth of 5.2 percent.
The city's per capita disposable income stood at 64,183 yuan last year, up 7.1 percent year on year in real terms after deducting price factors.