Shanghai's FDI in Actual Use Jumped to Record USD24 Billion Last Year, Mayor Says(Yicai) Jan. 23 -- Foreign direct investment in actual use in Shanghai soared to a new record high last year, according to the mayor of the eastern Chinese megacity.
Mayor Gong Zheng released the FDI data today at the opening ceremony of the second session of the 16th Shanghai People's Congress.
Shanghai's gross domestic product jumped 5 percent to CNY4.72 trillion (USD656.4 billion) last year from the year before, Gong noted, adding that the sizes of the city's top three industries -- integrated circuits, biomedicine, and artificial intelligence -- reached CNY1.6 trillion.
High-value invention patents per one million residents rose to 50.2 in the period, according to Gong.
Fixed-asset investment in the city rose 14 percent to top CNY1 trillion last year from the previous one, Gong said. Foreign trade inched up 0.7 percent to CNY4.2 trillion.
Research and development spending in Shanghai accounted for about 4.4 percent of its total economic output last year, Gong pointed out, adding that the city ranked first nationwide by the total amount of funds raised by local firms through initial public offerings and their market capitalization.
Shanghai residents' livelihood and well-being improved steadily last year, according to Gong. The city's per capita disposable income increased 6.6 percent to CNY85,000 (USD11,894), with the surveyed urban unemployment ratio averaging 4.5 percent.
The city's good air quality ratio inched up 0.6 percentage point to 87.7 percent last year from the previous one, Gong noted. Shanghai opened 162 new parks last year, reaching a total of 832.
Shanghai's general public budget income jumped 9.3 percent, while the consumer price index, a main gauge of inflation, rose 0.3 percent, Gong added.
Editor: Futura Costaglione