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April 13, 2016

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Poll shows confidence is high in Shanghai

CONSUMER confidence in Shanghai continued to improve in the first quarter due to positive sentiment among policy-makers about the economic outlook, a survey said yesterday.

The Index of Consumer Confidence in Shanghai, a quarterly gauge compiled by Shanghai University of Finance and Economics, rose 1.3 points from the final three months of last year to 117.7, its second quarterly increase in a row.

Readings above 100 points indicate optimism.

Xu Guoxiang, director of the university’s Applied Statistics Research Center, said the nation’s policy-makers expressed confidence in the economic outlook at their legislative sessions in March.

The index was also boosted by expectations of increased consumption and investment as a result of the Disney Resort, he said.

Shanghai’s gross domestic product rose 6.9 percent last year, the same rate as the national economy.

The city government made no mention of a GDP target in its January work report, but gave its priorities as boosting innovation, keeping unemployment below 4.5 percent, and investing 3 percent of GDP in green projects.

Mayor Yang Xiong said last year that the city government plans to maintain annual economic growth of between 6 and 7 percent over the next five years.


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