Shanghai's economy shows strong rebound with increased output

Shanghai's economy in April further rebounded with a strong surge in industrial output.

In April, the city's industrial enterprises above designated size completed a total industrial output value of 313.77 billion yuan (US$44.46 billion), 150 percent higher than a year earlier.

This makes the combined industrial production for the January-April period exceed 1.23 trillion yuan with a 14.6 percent increase year on year.

In terms of fixed asset investment, from January to April, the city's FAI expanded by 28.9 percent from the same period last year. Among the three major investment areas, urban infrastructure investment rose 7.2 percent, industrial investment soared 29.4 percent, and investment in real estate development jumped by 29.9 percent.

Among the city's three major sectors, the primary industry saw investment drop 14.2 percent. Investment in the secondary industry grew by 29.4 percent, and the tertiary industry expanded 28.8 percent from a year earlier.

Retail sales of consumer goods in Shanghai in the first four months achieved a total of 614.19 billion yuan, a year on year increase of 20.4 percent.

By industry, wholesale and retail sales of consumer goods was up by 18.8 percent to reach 563.93 billion yuan, while accommodation and catering sales topped 50.26 billion yuan with a year on year surge of 42.1 percent.